Big iron is down hard but nowhere near enough. BHP is down -2.7% to another post-GFC low (buy some more, Sykesy), RIO is down -1.5% and well above last week’s lows rather stupidly and FMG is down -3.3% but also hovering around last week’s lows despite now losing $495m per annum. The Australian equity market just does not get what is happening:
The junior’s grave yard is deathly quiet as the truth appears to have finally sunk in for them at least:
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Big gas is also being pounded with everything at post-GFC lows as WPL falls -2.3%, OSH tumbles -5.8%, ORG falls -3.5%, STO -4.5% and LNG -10.1%: