The ASX Is Falling Hard Following US Authorisation Of Iraqi Airstrikes

Iraqis fleeing fighting. Spencer Platt/Getty Images

President Barack Obama’s authorisation of targeted military strikes has pushed an already weak Australian market down even further.

The S&P/ASX 200 was down 1.3% to 5,437.20.

In the region, Japan’s Nikkei dropped more than 3% to 14,739.50 and Hong Kong’s Hang Seng was down 0.73% to 24,210.00

In Australia, the Commonwealth Bank was down 1.13% to $80.43.

And the market punished the Rea Group, which reported a 37% rise in net profit to $149.9 million for the year to the end of June, because expectations were more $154 million.

The operator of was down 8.35% to $42.92.

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