ASX Market Open: Wall Street returns to sell-off trend ahead of Fed policy decision | March 19, 2025

The ASX200 is set to open 0.64% lower at 7,809 points, reflecting falls in all three US bourses due to nervous investor sentiment ahead of the Federal Reserve’s policy decision on Wednesday.

After two days of gains, Wall Street returned to a sell-off trend, with the S&P 500 falling 1.1% lower, the Dow reducing 260 points and the Nasdaq 100 slumping by 1.6% under pressure from weakness in tech stocks.

This included a 5.3% drop from Tesla, after RBC Capital Markets slashed its price target, citing intensifying EV competition, and Alphabet – which dropped 2.3% after the announcement that Google is set to acquire cloud security firm Wiz for $32 billion.

On the ASX, Great Western Exploration Ltd (ASX:GTE) has reported discovery of a potentially large VHMS system through drilling at the Oval target of its Yerrida North project in Western Australia, and global tungsten producer Almonty Industries Inc (ASX:AII) has signed a strategic partnership with American Defense International for supply of the metal.

To commodities – all in US $ here: Iron ore is $101.80 on the Singapore Exchange, gold’s trading at $3034, Brent crude is $70.31 & natural gas is $4.06 a gigajoule.

One Aussie dollar is buying 63.6 US cents.

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