Australian shares post biggest one-day drop since June 2022

Odaily News Australian shares were not immune to the sell-off on Monday, with the benchmark index falling more than 3%, its biggest one-day drop since June 2022. It was the second consecutive day of declines ahead of the Reserve Bank of Australia's interest rate decision on Tuesday. Technology and bank stocks led the decline, with financial stocks experiencing their worst day since June 2020 after trading at record levels in the previous weeks. With the start of the earnings season this month, the Commonwealth Bank of Australia is about to announce its results, which will further test the Australian market. (Jinshi)