Australian shares are set to drop 1.7 per cent at the open, tracking broad losses on Wall Street as the probability of a Federal Reserve rate cut next month fell to near a coin toss from almost a certainty a month ago.
The Dow slumped 797.29 points or 1.6 per cent, dragged down by a 7.7 per cent drop in Walt Disney and a 3.8 per cent drop in Nvidia. Information tech led nine of the S&P 500’s industry sectors lower. The Nasdaq shaved off 532.7 points or 2.3 per cent and the S&P 500 lost 113.05 points or 1.7 per cent.
Source: https://www.afr.com/markets/equity-markets/asx-to-drop-wall-st-slides-on-rate-cut-clouds-20251114-p5nfcu