S&P’s downgrade of the US’s credit rating has rocked Asian markets this morning and the local bourse has not been spared.
Every sector is trading lower, with industrials and healthcare amongst the hardest hit.
In company news, Bendigo and Adelaide Bank reported a 41% increase in full-year net profit to 30 June. The stock is steady on the day.
Around the region, some Asian markets are suffering heavier falls than the XJO; the Shanghai Composite and Hang Seng are approximately 4% weaker.