At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a sizeable decline. The benchmark index is down 0.85% to 6,613 points.
Here's what has been happening on the market today:
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ANZ CFO resigns.
The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price has come under pressure on Tuesday after announcing the exit of its chief financial officer (CFO). According to the release, the bank's CFO, Michelle Jablko, has decided to leave the company and take up a senior role at toll road operator Transurban Group (ASX: TCL). Ms Jablko will transition her duties over the coming months to current Group General Manager Internal Audit Shane Buggle, who will be appointed Acting Chief Financial Officer.
Tech shares tumble.
Many of Australia's leading tech shares are trading lower on Tuesday. The likes of Nearmap Ltd (ASX: NEA) and Zip Co Ltd (ASX: Z1P) are trading notably lower and weighing heavily on the the S&P ASX All Technology Index (ASX: XTX). The tech index is down a sizeable 1.2% lower at the time of writing. This follows a soft night of trade on Wall Street's tech-focused Nasdaq index.
Iron ore price hits a nine-year high.
Mining giants BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO) are all dropping lower today despite the iron ore price jumping higher overnight. According to CommSec, the spot iron ore price jumped a massive 7.8% higher to a nine-year high of US$176.90 a tonne. This has been driven by concerns over a supply outage at one of Vale's mines in Brazil.
Best and worst ASX 200 performers.
The best performer on the ASX 200 on Tuesday has been the A2 Milk Company Ltd (ASX: A2M) share price with a 1.5% gain. Bargain hunters appear to be snapping up shares after a heavy decline last week. The worst performer has been the Ramelius Resources Limited (ASX: RMS) share price with a 7% decline. A number of gold miners are dropping lower today, but Ramelius is leading the pack.
