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Market Wrap / market meltdown

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market meltdown

Market Wrap28 May, 2026

The S&P/ASX 200 remained firmly in the red on Thursday, after fresh missile strikes from Iran swept away hopes of progress in US-Iran talks. The local index fell 1.43% to 124.80 points.

Miners were lower, led by gold stocks, on concerns that persistent inflation could keep global central banks hawkish. Newmont shed 6%.

Oil rallied, lifting the energy sector. Woodside was up 0.4% over the session.

On the company front, CSL fell 1.4% despite CEO Gordon Naylor buying shares.

Select Harvests fared better, jumping the most in two-and-a-half years on posting a strong interim profit.

Meanwhile SiteMinder gained a solid 8.22% after launching a new integrated booking platform.

Overnight, investors will get a preliminary read on US GDP. And Life360 and DroneShield will hold AGMs.

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