AU Morning Wrap: ASX falls 1% as global rates reset higher

Wall Street Summary
U.S. stocks dropped on Thursday after central banks around the world followed with their own hikes. The $S&P 500 Index(.SPX.US)$ lost 0.8%, the $Nasdaq Composite Index(.IXIC.US)$ declined 1.4%, and the $Dow Jones Industrial Average(.DJI.US)$ slipped 0.4%.

Treasury yields surged to multiyear highs and stocks fell after a parade of central banks joined the Federal Reserve in boosting rates to curb scorching levels of inflation at the expense of economic growth.The superlatives kept piling across Wall Street as selloff in the world's biggest bond market sent the 10-year yield to 3.7 per cent, its highest since 2011.

AU Market Watch
Australia's S&P/ASX 200 is on track to edge lower when it reopens following a one-day pause to mourn the death of Queen Elizabeth. ASX futures are down by 0.3%, suggesting the benchmark index could add to the 0.6% it has lost so far this week. The ASX 200 is coming off Wednesday's 1.6% fall and hasn't traded since the Federal Reserve approved its third consecutive interest-rate rise of 75 basis points.

Australian shares tumbled this morning. The $S&P/ASX 200(.XJO.AU)$ lost 1 per cent to 6633.3 as of 10:15 am.

Stocks to Watch
$Pointsbet Holdings Ltd(PBH.AU)$: ASX-listed bookmaker PointsBet is adding to its US footprint after receiving regulatory approval to launch in Louisiana.

The launch brings the company's online operations in the US to 12 states including New York, Iowa, Indiana and Illinois.

$Oz Minerals Ltd(OZL.AU)$: Australian miner OZ Minerals Ltd said on Friday it will invest about A$1.7 billion ($1.13 billion) to develop the West Musgrave copper-nickel project in Western Australia.

$Link Administration Holdings Ltd(LNK.AU)$: Link Administration has been placed in a trading halt pending an announcement relating to an update on the scheme of arrangement with Dye & Durham.

Ex-dividend: $BSP Financial Group Ltd(BFL.AU)$, $Latitude Group Holdings Ltd(LFS.AU)$, $Vita Life Sciences Ltd(VLS.AU)$

Dividends paid: $Eagers Automotive Ltd(APE.AU)$, $Bega Cheese Ltd(BGA.AU)$, $ClearView Wealth Ltd(CVW.AU)$, $IRESS Ltd(IRE.AU)$, $Jumbo Interactive Ltd(JIN.AU)$, $McPherson's Ltd(MCP.AU)$, $Mineral Resources Ltd(MIN.AU)$, $oOh media Ltd(OML.AU)$, $QBE Insurance Group Ltd(QBE.AU)$, $Resimac Group Ltd(RMC.AU)$, $Tabcorp Holdings Ltd(TAH.AU)$, $Viva Energy Group Ltd(VEA.AU)$

Commodities
• Iron ore futures fell rose 0.9% to US$99 a tonne.