Updated Sep 2, 2026 – 5.08pm, first published at 4.01amKey Posts4.42PM — Sep 2, 2026‘Drop egos and co-operate’, Santos CEO urges Beetaloo gas operators4.34PM — Sep 2, 2026Middle East war hits Country Road Group’s sales4.19PM — Sep 2, 2026HSBC updates house price forecast to tip 13pc decline4.13PM — Sep 2, 2026ASX falls 1pc as oil surge towards $US96 triggers bond meltdown3.38PM — Sep 2, 2026Minimax emerges as mainland China investors’ new favourite stock2.55PM — Sep 2, 2026Copper’s rally stalls as worries about global economy resurfaceGo to latestPinned post – 4.13PM – Sep 2, 2026ASX falls 1pc as oil surge towards $US96 triggers bond meltdownGus McCubbingAustralian shares fell on Wednesday as oil prices climbed towards $US96 a barrel and global bond yields surged amid renewed hostilities in the Middle East and increasing concern that higher inflation will force central banks to raise interest rates.The S&P/ASX 200 fell 88.3 points, or 1 per cent, to 8978.4, with eight out of the 11 sectors in the red. Investors also digested data that showed Australia’s gross domestic product increased 0.4 per cent in the June quarter, beating forecasts.Bond yields extended gains and the Australian dollar bounced after the data showed the economy grew faster than expected. Traders also ramped up bets that the Reserve Bank of Australia will lift the cash rate at least once more.“The Reserve Bank of Australia now faces an ugly policy dilemma,” said Global X ETFs senior investment strategist Marc Jocum.“The lagged effects of previous rate hikes are still working through the economy, but inflation remains stubbornly high. That could make for a tough second half of the year, with the uncomfortable spectre of stagflation looming large.”1 / 4Fetching latest articles