Geopolitics and volatility rattled local markets, with the ASX slipping as oil spiked on fresh US strikes in Iran, offsetting earlier optimism around a potential peace deal. The standout mover was ASX Ltd, plunging in a record one-day fall after flagging a sharp lift in technology-driven costs, while broader weakness across financials and energy weighed on sentiment. Mining stocks offered a rare bright spot, but the session underscored just how sensitive markets remain to global tensions and shifting macro signals.
