ASX to slide as Iran conflict, budget jitters weigh

The Australian sharemarket is set to extend losses on Monday as renewed hostilities between the US and Iran pushed oil prices higher, sparking fears of further inflation, and as anxieties grow ahead of the federal budget.

Futures suggest the S&P/ASX 200 Index will fall 0.5 per cent, or 42 points, at the open on Monday, extending Friday’s near $50 billion wipeout when the benchmark suffered its biggest one-day decline in two months.

Source: https://www.afr.com/markets/equity-markets/asx-set-to-fall-as-iran-war-bewilders-brent-above-us100-20260510-p5zvgo