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Australian shares have retreated as much as 1% today, down by more than 80 points, following panic in the U.S. sparked by Trump’s recession comments.
Tuesday’s sharp losses hit Technology the hardest; the laggard sector has lost 4.9% to lunchtime today. Discretionary lost 2.1% while Healthcare, down -1.9%, and Industrials, which lost -1.8%, followed in the red trends.
Only Utilities, up +0.7%, and Energy, which has added +0.7%, have been in the green.
Among the most watched companies on Hotcopper forums today is Hot Chili Limited (ASX:HCH) after the explorer’s non-executive chair Nichole Adshead-Bell and non-executive director Stephen Quin tendered their resignations.
HCH shares have dropped as much as 5.8% after that leadership news.
4DMedical Ltd (ASX:4DX) has also been heavily discussed; the medical tech company just locked in a three-year extension with Cleveland Clinic in the U.S.
Through this morning, 4DMedical has dipped slightly, to 38cps.
And finally, BluGlass Ltd (ASX:BLG) has caught eyes on the forum – though its price has stayed flat at 1.9c – after the company suggested it had found a way to clock the “highest known performance” of a gallium nitride laser.
That’s HotCopper’s Market Update – we’ll see you later for Market Close.
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