Explore the latest developments concerning ASX drops sharply.
ASX drops sharply after Wall St tumbles — as it happened
The ASX has fallen steeply, led by technology stocks, in response to a sharp drop on Wall Street overnight.
The benchmark's biggest stock, the CBA, fell 1.8 per cent, while the world's biggest miner, BHP dropped 1.3per cent.
TPG Telecom suffered the biggest fall of the session, plummeting 32 per cent by the close.
All eyes are now Wall Street, which will likely set the tone for the local share market's open on Monday.
And please watch out for markets analysis on the ABC News website Saturday morning — it is coming.
A sincere thanks on behalf of the ABC's Business Reporting Team for spending time with us on the blog.
ASX slumps 1.4pc as fading rate cut hopes smash tech, bitcoin
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The reality that central banks may not be able to deliver aggressive interest rate cuts has unleashed a sell-off in the hottest pockets of financial markets, where concerns are intensifying that valuations are far too stretched.
The S&P/ASX 200 Index sank 1.4 per cent on Friday to its lowest level since mid-July, in a broad sell-off which wiped $37 billion in market value. The benchmark posted a weekly decline of 1.5 per cent.
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