The Australian market extended its red run into Tuesday closing sharply lower, down 2.49% at 6961.60 points following sell-offs around the global markets on fears of tensions climbing in the Ukraine and concerns over the federal reserve tightening monetary policy in the short term.
Australia?s inflation data out today added to investor concerns as the rate for the December quarter spiked 1.3% for the three months and 3.5% over the 12-months, soaring past market expectations at its fastest rate since 2014.
The stocks that made headlines today were:
US-based buy now, pay later provider Sezzle jumped just under 10% today after fellow instalment payment provider Zip Co. confirmed it is in talks to acquire Sezzle.
Fortescue Metals Group extended Monday?s selloff into Tuesday, closing today?s session just shy of 5% lower after releasing its second quarter trading update including record first half iron ore shipments but also a 20% increase in C1 costs year on year.
Accent Group fell just over 4% today after the footwear-focused retailer shared that like-for-like sales across November and December fell compared to the prior corresponding period and management warned January has been challenging due to the impact of COVID-19.