Aust stocks fall at noon

Local market declines as investors worry about risks from US budget impasse.

The Australian stock market was lower at noon after a fall at the open and weak Wall Street leads on fears the United States may default due to the partial government shutdown.

At 1205 AEST, the benchmark S&P/ASX200 index fell 0.51% to 5,208.3 points, while the broader All Ordinaries index declined 0.5% to 5,205.6 points.

IG analyst Stan Shamu said the market looks set to close lower for the week.

"Heading into the weekend we doubt local investors will be keen to hold onto gains given the significant risk from the US political deadlock," Mr Shamu said.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

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