The local share market is in the red, while shares in stock exchange operator ASX Ltd have tumbled on a trading update. Follow the day's events and insights from our business reporters on the ABC News live markets blog.

Market drops after US strikes on Iran; ASX Ltd tumbles on costs spike; Atlas Arteria expert says IFM bid undervalues stock; Formica ups Magellan stake; JPMorgan ups iron ore…

The local share market is in the red, while shares in stock exchange operator ASX Ltd have tumbled on a trading update. Follow the day's events and insights from our business…