Australian shares fell on Wednesday after the US House of Representatives opened an impeachment inquiry into President Donald Trump, while signs of more tensions in US-China trade relations further undermined appetite for riskier assets.[BENGALURU] Australian shares fell on Wednesday after the US House of Representatives opened an impeachment inquiry into President Donald Trump, while signs of more tensions in US-China trade relations further undermined appetite for riskier assets.
On Wall Street, the S&P 500 saw its biggest daily drop in a month overnight after House Speaker Nancy Pelosi announced the formal inquiry, which will examine whether Mr Trump sought Ukraine's help to smear former Vice-President Joe Biden, the front-runner for the 2020 Democratic presidential nomination.
Iron ore producer Mt. Gibson Iron tumbled almost 8 per cent to its lowest since Sept 10, while fellow miner Champion Iron Ltd shed almost 5 per cent. Oil and gas major Woodside Petroleum fell nearly 2 per cent to a near two-week low, while Santos declined 1.5 per cent.
Source: News Formal (newsformal.com)
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