Australian Shares Plunge 1.8 Percent in Worst Loss in a Year

‘A lot of upset today - a bit of hurt, too,’ said Moomoo market analyst Jessica Amir. 

People monitor stocks prices on an electronic screen at the Australian Stock Exchange in Sydney, Australia, on Aug. 6, 2019. Saeed Khan/AFP via Getty Images

The local share market has suffered its worst single-day drop in a little more than a year as traders took money off the table following weeks of gains and ahead of another important US inflation readout.

The benchmark S&P/ASX200 finished near the lows of the day on March 11, down 142.8 points, or 1.82 per cent, to 7,704.2, while the All Ordinaries fell 143.9 points, or 1.77 per cent, to 7,963.6.