Westpac predicts 11pc fall in house prices, miners drag ASX lower | Finance Report

Summary

The Australian share market ended its day lower, ahead of the Reserve Bank's interest rate decision and the US mid-term elections. A sharp fall across mining stocks weighed on the ASX 200. The gold price has fallen to a one-year low, below $US4,000 per ounce. Wall Street's tech index, the Nasdaq 100, has seen its market value plummet by more than $US2 trillion ($AU 2.85t) in October due to the ongoing AI sell-off. Westpac reported its annual profit fell 1 per cent to $6.8 billion. The bank is forecasting Australian property prices will drop by around 11 per cent, from peak to trough…

Description from ABC News (Australia).