ASX 200 LIVE: ASX to drop, Warsh’s commitment to price stability questioned

ASX opens lower after wild Wall Street swings; oil surges on rising Middle East tensions

Fed holds rates; Nasdaq enters correction (-11%) as chip makers slump on AI profit concerns (SK Hynix -9.6%, Nvidia -3.6%, KLA -10.8%). 10-year Treasury yields hit 4.68%, pressuring capex/M&A plans; oil surge ($88/bbl, +7.3%) on Iran conflict adds infrastructure cost headwind.