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ASX 200 Dips 1% at Finish

The ASX 200 fell 90 points, or 1.0%, to close at 9,038 on Thursday, extending prior losses as concerns mounted that the Reserve Bank of Australia could tighten monetary policy as soon as next month after a hotter-than-expected inflation print. Meanwhile, three of the four major banks now anticipate another hike later this year following three increases already in 2026. Losses were broad, led by retail trade, consumer stocks, non-energy minerals, and financials. Still, sentiment was limited by a surge in U.S. futures after Nvidia’s blowout earnings, with Q2 revenue more than doubling and beating forecasts by the widest margin in two years. Locally, household spending rose more than expected in July, up for a third straight month. Heavyweights BHP Group and Rio Tinto slipped 1.5% and 0.5%, respectively. Westfarmers tumbled 4.6% as warnings of squeezed household budgets overshadowed stronger annual profit. In contrast, Qantas Airways jumped 4.8% after issuing upbeat revenue guidance.

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