Australia suffers $120 billion wipeout as oil prices skyrocket
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Source: 9News
Published: 2026-03-09 14:29 UTC+10:00
Section: Finance
Factuality Score: 100
Opinion Category: Neutral
Topics: Middle East, Military & Defence, Australia, Iran, Energy, World News, Business & Economy, War & Conflict
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Snippet:
About $130 billion has been wiped from the Australian sharemarket today as surging oil prices and fears of a long war in Iran shocked traders around the world.The ASX200 index fell 2.9 per cent when it opened at 10am, and has continued to plummet throughout the day, dropping by 3.93 per cent, or 347.70 points, to 8503.30 as of 1.30pm AEDT.The massive plunge comes on the back of rising oil prices, which have gone up 20 per cent, rocketing to
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