FEAR & GREED | Business News Afternoon Report | ASX tumbles
6 snips
Mar 19, 2026 Markets slip after a surprise Fed hold and rising unemployment numbers. Coverage of changing sector performance on the ASX. Discussion of revised Fed inflation outlook and market reactions. Breakdown of fresh radio ratings and high-profile contract fallout. Report on unidentified drones near a US military base and resulting security measures.
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ASX Slides After Fed Pause And Jobs Miss
- The ASX plunged 1.65% with the S&P/ASX 200 closing at 8,498 after a weak open that persisted all day.
- The tumble followed the US Fed pause and higher local unemployment, while energy stocks bucked the trend and materials and tech were sold off.
Unemployment Rises Despite Job Adds
- Australia's February unemployment rose to 4.3% from 4.1% despite 49,000 jobs added, as labour force participation increased.
- Banks and stable large caps outperformed the market but still closed lower, while energy led gains.
PM Urges De escalation And Sets Up Fuel Task Force
- Prime Minister Anthony Albanese suggested the US and Israel may have met objectives in Iran and called for de-escalation while acknowledging uncertainty.
- A national fuel task force was created after national cabinet to manage supply risks from the Middle East crisis.