Australian Stocks Fall as Treasury Yields and Oil Prices Rise

The S&P/ASX 200 declined sharply on Thursday, September 24, 2026, ending a three-session winning streak. The benchmark index fell between 0.72 percent and 1.31 percent, with reports placing the closing value between 8,650.10 and 8,702. The downturn was driven by losses in the mining, financial, and technology sectors, following a negative trend on Wall Street and US Treasury yields hitting their highest levels since 2007.

Major financial institutions, including Commonwealth Bank of Australia, Westpac Banking Corporation, and National Australia Bank, each saw shares decline more than 2 percent. The property sector experienced the largest overall decline, while Zip Co emerged as the worst performer in the ASX200, falling 11.4 percent. In contrast, Premier Investments Ltd. rose 7.1 percent following record sales for its Peter Alexander chain, and Soul Patts reached an all-time high after announcing a dividend increase.

External pressures included rising Brent crude prices, which reached $92.40 a barrel due to Middle East conflict concerns and speeches by Iranian officials at the UN General Assembly. These energy costs provided a partial offset for domestic companies like Santos and Woodside Energy. Domestically, the Australian Bureau of Statistics reported a rebound in August employment, leading analysts to suggest the Reserve Bank of Australia is more likely to raise interest rates next week.