Australian Stocks Slide as Banks and Miners Weigh Down Market

Mon 31 Mar 25, 01:04 AM | Team Kalkine

ASX 200 Declines: The Australian stock market dropped 1.4% on Monday, with the S&P/ASX 200 index reaching 7,783.2 points.

Mining and Banking Sectors Struggle: Miners fell 2% due to declining iron ore prices, while major banks lost up to 2%.

RBA Decision Anticipated: The Reserve Bank of Australia is expected to keep interest rates unchanged, with economists predicting two rate cuts this year.

Australian shares opened the week on a weak note, dragged down by losses in the banking and mining sectors, as investors awaited the Reserve Bank of Australia’s (RBA) interest rate decision. The S&P/ASX 200 index slumped 1.4% to 7,783.2 points, marking a second consecutive month of losses, with the benchmark set to end March down by 2.3%.

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