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ASX:SXL 28 May 2026

ASX 200 slumps on oil shock, banks and tech drop

ASX 200 slumps on oil shock, banks and tech drop

Australian shares fell sharply Thursday, with the S&P/ASX 200 down 1.4% to 8,592.90 as renewed fighting near the Strait of Hormuz drove oil prices higher. Banks, miners, and tech stocks each lost over 2%, while gold miners dropped as much as 7.1%. April CPI eased to 4.2%, but core inflation remained above the Reserve Bank’s target. Investors remain focused on Middle East tensions and inflation risks.
28 May 2026
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Stock Market Today

  • Stock Market Today: Dow, S&P 500, Nasdaq Set to Decline Amid Rising Oil Prices and U.S.-Iran Tensions
    May 28, 2026, 5:58 AM EDT. Stocks are positioned to fall as oil prices rise following military strikes between the U.S. and Iran, escalating geopolitical tensions. The Dow, S&P 500, and Nasdaq are expected to open lower. Investors await key data on Personal Consumption Expenditures (PCE) inflation, a vital gauge of consumer inflation monitored by the Federal Reserve. Notably, Snowflake shares surged 36% in premarket trading after the cloud software company exceeded fiscal first-quarter earnings expectations and issued an optimistic outlook, highlighting uneven market performances amid broader declines.

Latest articles

Plug Power Shares Jump, Cash Burn Still a Concern

Plug Power Shares Jump, Cash Burn Still a Concern

28 May 2026
Plug Power shares closed Wednesday up 7.8% at $4.14, trading near a 52-week high on heavy volume. The company reported a first-quarter net loss of $245.3 million and burned $150 million in cash, despite revenue rising 22% to $163.5 million. Asset sales totaling $181 million are expected by June. Analyst targets average $3.62, below the current price.
Redwire Stock Just Jumped 27% — The $498 Million Number Traders Can’t Ignore

Redwire Stock Spikes as SpaceX Trade Hits Early Test

28 May 2026
Redwire shares fell in premarket trading Thursday to around $23.25 after closing Wednesday at $24.00, up 8.9%. The drop followed a rally in space stocks tied to anticipation of SpaceX’s IPO, which Reuters reports could value SpaceX at $1.75 trillion. Redwire’s latest news includes a $15 million Army drone order and a high-eight-figure contract from a NATO country. The company posted a Q1 net loss of $76.5 million on $97 million revenue.
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