Iranian situation causes Australia's stock market gains since February to return to zero

2026-03-09 12:58:46

Xinhua News Agency reports that the Australian stock market has fallen approximately 4% over five trading days following the US and Israel’s attacks on Iran, losing more than AUD 130 billion (about USD 91 billion), erasing the 3.7% gain in the Australian stock market in February.

According to the Australian News Network on March 8, while stocks were being sold off, energy prices surged significantly. Investors are concerned that rising energy costs will spill over into other sectors of the economy, driving up inflation.

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