Australian shares fell nearly 1 per cent on Monday, extending the previous session's sell-off, as rising trade tensions between Washington and Beijing over the coronavirus outbreak dented sentiment.[BENGALURU] Australian shares fell nearly 1 per cent on Monday, extending the previous session's sell-off, as rising trade tensions between Washington and Beijing over the coronavirus outbreak dented sentiment.
The S&P/ASX 200 index dropped 0.9 per cent to 5,200.4 points by 0101 GMT, pulled down by energy and financial stocks. The benchmark tumbled 5 per cent on Friday after US President Donald Trump threatened new tariffs on China in response to its handling of the pandemic. Adding to the jitters, US Secretary of State Mike Pompeo said on Sunday there was"a significant amount of evidence" that the new coronavirus emerged from a Chinese laboratory.
On Monday, energy stocks fell as much as 4.3 per cent, weighed down by weaker crude prices. Cooper Energy and Whitehaven Coal were among the top drags on the sub-index, losing between 1.3 per cent and 2.1 per cent.
Source: News Formal (newsformal.com)
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