FEAR & GREED | Business News Afternoon Report | ASX bounces after rout
5 snips
Mar 5, 2026 Markets rebound after a sharp rout, with the ASX clawing back losses. Travel chaos in the Gulf affects flights and stranded Australians. Household spending ticks up while airport parking profits surge. Debate heats over expanded annual leave and corporate moves to retain major retail and hotel assets.
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Market Rout Driven By Middle East Risk
- The ASX 200 plunged 1.9% as global markets feared the Middle East conflict could widen.
- $63 billion in local market value was wiped out with all 11 sectors down and miners, banks and property hit hardest.
First Evacuation Flight From Dubai Arrives
- The first commercial flight from the Middle East to Australia since the conflict escalation departed Dubai for Sydney.
- Foreign Minister Penny Wong confirmed Emirates EK414 left after talks, while up to 115,000 Australians remain affected across the region.
Five Week Leave Could Add To Inflation
- The ACTU proposal to lift minimum annual leave to five weeks could raise labour costs and inflationary pressure.
- Economist Warren Hogan estimates it might increase labour costs by about 2%, potentially passed to consumers if productivity doesn't rise.