ASX falls as Woolies, Coles shares slump on war inflation; oil climbs
The Australian sharemarket declined for the eighth consecutive day as rising geopolitical tensions over potential new U.S. military action in Iran drove oil prices to wartime highs, impacting investor sentiment. Woolworths shares fell sharply after the supermarket giant warned of increased inflation pressures linked to the conflict. The S&P/ASX 200 closed 0.2% lower at 8665.80, while Brent crude reached $US126 a barrel amid fears of further Middle East escalation.
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