ASX down 2.5 per cent in early trade

Derek Rose | May 10, 2022

The local bourse has fallen even further in early trade, hitting a fresh 14-week low.

The benchmark S&P/ASX200 index had dropped 170.7 points, or 2.4 per cent, to 6,950 at 1035 AEDT on Tuesday. 

The All broader All Ordinaries was down 187.8 points, or 2.55 per cent, to 7,170.1.

It’s the sixth day of losses in seven days for the ASX, and currently its worst day of trading since February 24, the beginning of Russia’s invasion of Ukraine. 

The ASX is at its lowest level since January 31 and is down 6.5 per cent for the year.

Every sector was down at least 1.4 per cent, with energy stocks collectively falling 4.4 per cent and tech stocks dropping 4.3 per cent.