Australian shares drop 3.8% as Middle East conflict rattles markets

Business Mar 06, 2026

Australian shares just had their worst week since late March 2025, dropping 3.8% as worries over Middle East conflicts and rising inflation spooked investors.
The S&P/ASX 200 closed at a one-month low, wiping out over A$133 billion from the market (ouch for banks and mining companies especially).

Miners and banks take a hit, tech stocks jump

While banks and miners took a hit (mining fell 8.6%, its worst in years), tech stocks like WiseTech and Siteminder actually jumped more than 10%.
Despite the chaos, analysts are still upbeat about Australia's economy.