FEAR & GREED | Business News Afternoon Report | ASX down for week
Mar 20, 2026
Markets slide as ASX posts a weekly drop and miners lead losses. Energy and oil prices wobble amid global tensions and shifting coal demand. Coles adjusts freight fuel reviews while airlines hint at higher fares. Cyclone Narelle tracks across Cape York with potential Gulf intensification. Retail chain Smiggle reports a sales slump and corporate shakeup. International moves aim to secure the Strait of Hormuz.
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ASX Down Third Week As Markets Price More Rate Hikes
- The ASX fell 0.8% on the day and is down about 2.2% for the week, marking a third straight week of losses.
- Michael Thompson links the slide to gold miners' falls, weaker gold prices, and markets pricing further RBA hikes to 4.85% if inflation persists.
Coal Stocks Rise As Qatar LNG Damage Sparks Supply Fears
- Energy and mining stocks diverged as oil eased slightly while coal miners rose after reports of major LNG damage.
- Michael Thompson noted attacks damaged 17% of Qatar's LNG capacity, lifting coal names like Yankol and Whitehaven nearly 3.5–4%.
Review Freight Fuel More Frequently To Pass On Costs
- Coles will review fuel components of freight twice monthly to let transporters recoup rising costs faster.
- Michael Thompson flagged this as an example of broader price pressures prompting more frequent supplier cost pass-throughs, with airlines also raising fares.