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Mining Stocks Drag ASX Lower as Oil Prices Spike

By Stocks Desk · 2026-09-11 · Updated 2026-09-11 08:26 UTC
A pile of raw copper and iron ore chunks on a dark surface
Illustration: Tradingbird

Mining stocks have dragged the ASX to a two-month low as BHP and Rio Tinto fell sharply amid spiking oil prices. The market slump is being compounded by a global bond selloff that has pushed Australian government bond yields to their highest levels since 2011.

  • According to GN stocks/shares-fall, the S&P/ASX 200 has now confirmed a close at 8,741.20, marking its lowest level since July 2. The report notes that Australian government bond yields have surged past the 5% threshold, hitting their highest point since 2011 amid a global sell-off.

    Source: GN stocks/shares-fall

  • BHP and Rio Tinto shares fell sharply as surging oil prices and geopolitical tensions in the Red Sea weighed on the broader Australian market.

    Source: GN stocks/shares-fall
Based on reporting by GN stocks/shares-fall and GN stocks/shares-fall, compiled by the Tradingbird desk.

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