ASX 200 thumped as nagging inflation dashes 2024 rate cut hopes, gold & copper only places to hide

There were two places to hide from the carnage. Gold on a flight to safety and copper on a flight to anything BHP might write a cheque for!
Carl Capolingua

Livewire Markets

The S&P/ASX 200 closed 107.1 points lower, down 1.39%.
The S&P/ASX 200 closed 107.1 points lower, down 1.39%.

A bunch of stuff got belted today as markets swung decidedly risk off.

Why? Same as usual, it's all about interest rates and the timing of much anticipated cuts thereto. US benchmark yields were on the climb yesterday, tipping 4.73%, and sucking the life out of investors' need to invest in anything more risky with a lower yield which let's face it is pretty much everything.

There were a couple of places to hide from the carnage, though. Gold and copper stocks rose strongly on a flight to safety and a flight to anything BHP Group (ASX: BHP) might write a cheque for, respectively.

Let's dive in!

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Carl Capolingua
Content Editor
Livewire Markets

Carl has over 30-years investing experience and has helped investors navigate several bull and bear markets over this time. He is a well respected markets commentator who specialises in how the global macro impacts Australian and US equities. Carl...

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