The ASX200 closed down 4.2% at 7,343 points in a $97B wipeout for the market.
The Energy sector was decimated, down 7%, followed by Financials, down 5%, and Materials and Discretionary – both down 4.8%.
In the Green
Lynas Rare News (ASX:LYC) closed up 3.1% after Aussie-listed miners of heavy rare earths rallied today, shrugging off major selloffs across other markets on bets Western governments would renew their push to develop a separate supply chain after top producer China set down export controls.
Lynas Rare Earths closed at $7.54.
Nyrada (ASX:NYR) closed up 4.8% on reports of neuroprotective results for its lead drug candidate in a collaborative traumatic brain injury study with the Walter Reed Army Institute of Research and UNSW Sydney.
Nyrada closed at 9.8 cents.
Abacus Storage King (ASX:ASK) closed up 20.7% on news of an unsolicited takeover offer from a consortium, valuing the firm at around A$1.9 billion.
Abacus Storage King closed at $1.40.
In the Red
Woodside Energy (ASX:WDS) finished down 5.8% after cracking a binding agreement with Stonepeak, a global investment firm specialising in infrastructure and real assets, to sell a 40% stake in Louisiana LNG Infrastructure.
Woodside closed at $19.25.
Kelsian Group (ASX:KLS) finished down 8.3% today despite developments in its U.S. operations, where its wholly owned subsidiary, First Class Transportation, secured contract renewals and new business in Texas worth approximately US$31 million.
Kelsian wrapped up at $2.31.
Telix Pharmaceuticals (ASX:TLX) closed down 2% after saying it didn’t expect “any material impact” on its business or supply chain as a result of the US administration’s tariffs on imports.
Telix Pharmaceuticals closed at $23.15.