FEAR & GREED | Business News Afternoon Report | ASX down 1pc
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Feb 2, 2026 Markets wobble as ASX and gold slide while miners feel the heat. Bitcoin plunges to a 10-month low and broader crypto losses are highlighted. Political tension rises with a leadership challenge and talks to reunite coalition partners. Airlines battle over Economy Plus and extra-legroom fares. Grammys protests spotlight ICE and a historic all-Spanish Album of the Year win.
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ASX Slides As Gold Plunge Hits Miners
- The ASX 200 fell 1% to 8,779, marking the biggest drop in 10 weeks and weakening eight of 11 sectors.
- Gold's sharp slide after the Trump Fed appointment heavily pressured miners like Newmont and Northern Star.
Cryptos Extend Multi-Month Decline
- Bitcoin hit a 10-month low near $74,500, extending a four-month losing streak and falling 11% in January.
- Major altcoins like Ethereum and Solana also moved lower, reflecting broader crypto weakness.
Littleproud Survives But Faces Coalition Pressure
- Nationals leader David Littleproud survived a leadership challenge from Colin Boyce but now faces pressure to reunite with the Liberals.
- Senior MP Darren Chester moved a motion calling for the party to re-enter the coalition and talks with Susan Lee were scheduled.