Wall Street Hits Record Highs as ASX Slumps – Gold Crashes, CSL Plunges 15% in Shock Divergence
Global markets are riding high on hopes of a U.S.–China trade truce and easier monetary policy, but Australia’s share market didn’t get the memo. On Tuesday, the S&P/ASX 200 index closed down 0.5%, surrendering about 43 points to finish near 9,012abc.net.au. This retreat stands in stark contrast to Wall Street’s overnight rally – U.S. indices surged to record peaks on Monday, buoyed by optimism that President Trump and China’s President Xi will strike a trade deal at an upcoming summitwdio.com. The S&P 500 jumped 1.2% to a historic 6,875, the Dow hit 47,544 and Nasdaq 23,637wdio.com. So why did Australian stocks lag despite this global euphoria? The answer lies in a perfect storm of home-grown shocksthat hit key sectors on the ASX:
