Australian Shares Open the Week Lower
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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%.
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