Aust stocks drop on Syria crisis

The threat of US intervention in Syria sent the domestic market sharply lower

The Australian stock market closed more than one per cent lower as investors worried about the Syrian crisis sought to minimise risks.

At 1615 AEST official market close, the benchmark S&P/ASX200 index fell 1.05 per cent to 5,087.2 points, while the broader All Ordinaries index dropped 1.03 per cent to 5,078 points.

IG analyst Chris Weston said capital preservation was returning to global markets.

"Many of the positive trends of late are unfolding fairly rapidly," Mr Weston said.

"The world is transfixed on Syria and rightly so given the Syrian foreign minister’s comments that its defence would surprise the world."

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles