--- title: "Australian Shares Open the Week Lower" type: "News" locale: "en" url: "https://longbridge.com/en/news/279177882.md" description: "The S&P/ASX 200 index fell 0.6% to 8,569 on Monday, continuing losses due to rising tensions in the Middle East affecting global growth and inflation. The US military actions near Iran's oil export hub have raised oil prices and fears of supply shocks, leading to expectations of further interest rate hikes from the RBA, which is set to announce its monetary policy decision on Tuesday. Major mining and gold stocks also saw declines, with BHP Group, Rio Tinto, and Fortescue down 0.9% to 2.9%, and gold producers down 3.3% to 5.6%." datetime: "2026-03-16T00:04:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279177882.md) - [en](https://longbridge.com/en/news/279177882.md) - [zh-HK](https://longbridge.com/zh-HK/news/279177882.md) --- # Australian Shares Open the Week Lower The S&P/ASX 200 fell 0.6% to 8,569 on Monday, extending losses from the previous week as escalating tensions in the Middle East continued to raise concerns about global growth and inflation. Over the weekend, the US struck military targets near Kharg Island, Iran’s main oil export hub, and warned it could expand attacks on energy infrastructure if shipping through the Strait of Hormuz is disrupted. The developments pushed oil prices higher and heightened fears of supply shocks that could reignite inflation, increasing expectations of further interest rate hikes from the central bank. The RBA is set to deliver its monetary policy decision on Tuesday, with markets expecting a back-to-back rate hike that would lift the cash rate to 4.1%. Materials stocks were among the main drags, with mining giants BHP Group, Rio Tinto, and Fortescue falling 0.9% to 2.9%. Gold producers also declined, with Newmont Corporation, Evolution Mining, and Northern Star Resources down 3.3% to 5.6%. ### Related Stocks - [RIO.US](https://longbridge.com/en/quote/RIO.US.md) - [BHP.UK](https://longbridge.com/en/quote/BHP.UK.md) - [RIO.AU](https://longbridge.com/en/quote/RIO.AU.md) - [BHP.US](https://longbridge.com/en/quote/BHP.US.md) - [RIO.UK](https://longbridge.com/en/quote/RIO.UK.md) - [BHP.AU](https://longbridge.com/en/quote/BHP.AU.md) - [AEM.US](https://longbridge.com/en/quote/AEM.US.md) - [600489.CN](https://longbridge.com/en/quote/600489.CN.md) - [KGC.US](https://longbridge.com/en/quote/KGC.US.md) - [GOLD.US](https://longbridge.com/en/quote/GOLD.US.md) - [600547.CN](https://longbridge.com/en/quote/600547.CN.md) - [NEM.US](https://longbridge.com/en/quote/NEM.US.md) - [GDXJ.US](https://longbridge.com/en/quote/GDXJ.US.md) - [JDST.US](https://longbridge.com/en/quote/JDST.US.md) - [SGDM.US](https://longbridge.com/en/quote/SGDM.US.md) - [GOLD.AU](https://longbridge.com/en/quote/GOLD.AU.md) - [GDXY.US](https://longbridge.com/en/quote/GDXY.US.md) - [159934.CN](https://longbridge.com/en/quote/159934.CN.md) - [RING.US](https://longbridge.com/en/quote/RING.US.md) - [GLTR.US](https://longbridge.com/en/quote/GLTR.US.md) - [GDXW.US](https://longbridge.com/en/quote/GDXW.US.md) - [GDX.UK](https://longbridge.com/en/quote/GDX.UK.md) - [JNUG.US](https://longbridge.com/en/quote/JNUG.US.md) - [518850.CN](https://longbridge.com/en/quote/518850.CN.md) - [DUST.US](https://longbridge.com/en/quote/DUST.US.md) - [GDXJ.UK](https://longbridge.com/en/quote/GDXJ.UK.md) - [A200.AU](https://longbridge.com/en/quote/A200.AU.md) - [GOAU.US](https://longbridge.com/en/quote/GOAU.US.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [STW.AU](https://longbridge.com/en/quote/STW.AU.md) - [GDX.US](https://longbridge.com/en/quote/GDX.US.md) - [159562.CN](https://longbridge.com/en/quote/159562.CN.md) - [SGDJ.US](https://longbridge.com/en/quote/SGDJ.US.md) ## Related News & Research - [China eyes looser rules on BHP iron ore imports amid dispute](https://longbridge.com/en/news/282637149.md) - [Citi Sticks to Its Hold Rating for Rio Tinto (RIO)](https://longbridge.com/en/news/282603026.md) - [Best Rated Gold IRA Companies USA Rankings Announced for 2026 - Top Gold IRA Companies Compared](https://longbridge.com/en/news/282734877.md) - [Iconic Gold Corrects BGX Shareholding Disclosure, Confirms Ongoing Strategic Stake](https://longbridge.com/en/news/282233931.md) - [$2.2 Billion Acquisition Uncovers Junior Mining Appeal In 2026](https://longbridge.com/en/news/282528329.md)