Australian Shares Plunge 1.8 Percent in Worst Loss in a Year

The local share market has suffered its worst single-day drop in a little more than a year as traders took money off the table following weeks of gains and ahead of another important US inflation readout. The benchmark S&P/ASX200 finished near the lows of the day on March 11, down 142.8 points, or 1.82 per cent, to 7,704.2, while the All Ordinaries fell 143.9 points, or 1.77 per cent, to 7,963.6. The drop was the ASX200’s worst since a 2.3 per cent fall on March 10, 2023, and left it at its lowest level since February 29. “A huge, huge move,” said Moomoo market analyst Jessica Amir. “A lot of upset today – a bit of hurt, too....