Afternoon Report | ASX hits six-week low
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What is the main topic discussed in this episode?
Welcome to the Fear and Greed Business News Afternoon Report for Tuesday, the 8th of September 2026. I'm Michael Thompson, and every afternoon we've got the five stories that happened today that you need to know about. Let's jump straight into story number one.
Why did the ASX 200 drop to a six‑week low and what does it mean for investors?
The SP ASX 200 has fallen to a six week low, closing 1% lower today to 8,918 points. That is its biggest one day fall since June. Oil prices are a big part of the story. Brent Crew Is pushing towards $100 a barrel, tensions in the Middle East escalating, which adds, of course, to inflation concerns and contributing to expectations of another interest rate rise here in Australia. We have more people and more banks now expecting that to be the case. We'll have a little bit more of that one on tomorrow morning show. But not helping today were two surveys, one from NAB showing business conditions at a six-year low, the other from From the Westpac Melbourne Institute showing a consumer confidence slump. But on the boss, banks and tech stocks were among the biggest losers.
ANZ fell 2.6%. Commonwealth Bank almost 2%.
How is Australia’s housing wealth losing $34 billion and what are the drivers behind the price decline?
NAB and Westpac were both off around 1.5%. For the tech stocks, Wise Tech Global was down nearly 3%. Even the big miners lost ground today, despite stronger iron ore and copper prices. Prices. Story number two Australia's housing market lost $34 billion in value over the June quarter, the first quarterly fall in almost four years. New ABS figures put the value of the nation's residential property at $12.69 trillion, which is down 0.3% over the quarter. The average dwelling price fell 0.7% to about $1.1 million. The decline Decline, of course, followed three consecutive reserve bank rate rises, as well as the federal government's changes to negative gearing and the capital gains tax discount in the May budget.
Treasurer Jim Chalmers has acknowledged that those tax changes contributed to falling house prices. Story number three: ASIC has taken action against three superannuation funds over misleading descriptions of their investment options. Australian retirement.
What misleading investment claims led ASIC to fine three super funds and how will this affect members?
Trust, Telstra Super, and Australian Food Super have each agreed to pay almost $40,000 after the regulator found errors in how some investment options were described on their websites. The issues included funds saying options were entirely invested in private or unlisted assets when they actually included listed property or international shares. ASIC Commissioner Simone Constant says that Super members rely on funds. To get basic information about asset allocation and investment options right, and that trustees need to make sure those disclosures stay accurate. Story number four: the federal government says Australia's H5 bird flu outbreak has still not spread into commercial poultry or agriculture.
Agriculture Minister Julie Collins told Parliament today that there have now been 498 bird fluid. Flu events across the country. While the National Bird Flu Hotline has received more than 39,000 calls, the government has committed $270 million to tackling the outbreak. That includes the vaccination of 1,500 penguins in Victoria, which it says is the world's largest bird flu vaccination program involving wild birds. And finally, story number five, newly released. These documents suggest New Yorkers may have been told it was safe to return to Lower Manhattan after the September 11 attacks while dangerous contaminants were still being detected.
Is the H5 bird‑flu outbreak spreading to commercial poultry and what is the government’s response?
The New York Times reports that more than 170,000 pages of records are being released by the Office of New York Mayor, Zoran Memdani, ahead of the 25th anniversary of the attacks. The documents include evidence of Of asbestos and other contaminants around the World Trade Center site months after the attacks, despite repeated assurances from city and federal officials that the air was in fact safe. The records could also prove important for people seeking compensation for illnesses linked to exposure at ground zero. And that is it for the afternoon report for Tuesday, the 8th of September. Make sure you're following the podcast.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:03–0:15
2
Why did the ASX 200 drop to a six‑week low and what does it mean for investors?
0:15–1:05
3
How is Australia’s housing wealth losing $34 billion and what are the drivers behind the price decline?
1:05–2:08
4
What misleading investment claims led ASIC to fine three super funds and how will this affect members?
2:08–3:34
5
Is the H5 bird‑flu outbreak spreading to commercial poultry and what is the government’s response?
3:34–4:17
6
What new 9/11 records reveal about toxic air at Ground Zero and why does it matter now?
4:17–4:40
Speakers
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