Australia Stock Market Today: ASX 200 Tumbles as Oil Shock Erases Nearly $50 Billion
May 8, 2026, 18:35 in Sydney Australian stocks took their biggest tumble in nearly two months on Friday, with the S&P/ASX 200 sliding 133.7 points, or 1.51%, to close at 8,744.40. Renewed tensions in the Gulf rattled investors and erased close to A$50 billion in value from the market.