FEAR & GREED | Business News Afternoon Report | ASX plunges
Mar 4, 2026
Markets tumble with a sharp ASX 200 sell-off wiping billions from valuations. Commercial flights resume from Dubai to Sydney after disruptions. A heated debate over a five-week annual leave proposal and its economic impact. A major liquor and hotels operator signals strategic shifts. Apple unveils new MacBook chips and price and storage changes.
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ASX 200 Plunge Driven By Geopolitical Risk
- The ASX 200 plunged 1.9% as global markets feared the Middle East conflict could widen.
- Materials, mining, banks and property led losses with $63 billion wiped and iron ore under $100 a ton, hitting BHP, Fortescue and Rio Tinto hard.
Growth and Oil Prices Increase Rate Hike Risk
- Rising oil prices and stronger GDP raised expectations of an interest rate hike, amplifying the market sell-off.
- Local growth ran at its fastest pace in almost three years in the December quarter, increasing the probability of tighter monetary policy.
First Commercial Flight Evacuates Australians From Dubai
- The first commercial flight carrying Australians from the Middle East departed Dubai for Sydney after talks with UAE authorities.
- Foreign Minister Penny Wong confirmed Emirates flight EK414 left as airports closed across the Gulf left thousands stranded.