1 00:00:04,120 --> 00:00:06,600 Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report 2 00:00:06,640 --> 00:00:09,360 Speaker 1: for Friday, the twenty first of November twenty twenty five. 3 00:00:09,400 --> 00:00:12,200 Speaker 1: I'm suan Alma. Every afternoon we bring you the five 4 00:00:12,200 --> 00:00:14,240 Speaker 1: big stories that happened today that you need to know about. 5 00:00:14,240 --> 00:00:17,360 Speaker 1: Storingum one, the S and PASX two hundred tumbled one 6 00:00:17,360 --> 00:00:20,400 Speaker 1: point six percent today to close it eighty four hundred 7 00:00:20,400 --> 00:00:23,639 Speaker 1: and seventeen points. That's nearly four percent for the week, 8 00:00:23,760 --> 00:00:26,840 Speaker 1: eight percent for the past month. Investors got a poor 9 00:00:26,920 --> 00:00:29,800 Speaker 1: leading from Wall Street, and when the selling began everyone 10 00:00:29,880 --> 00:00:32,839 Speaker 1: jumped in. The Materials index fell four percent, Energy was 11 00:00:32,880 --> 00:00:36,360 Speaker 1: off three percent, Industrials were down two percent. BHP led 12 00:00:36,360 --> 00:00:39,120 Speaker 1: the way lower, falling three point four percent after reports 13 00:00:39,120 --> 00:00:42,479 Speaker 1: that Chinese buyers had been instructed to stop buying a 14 00:00:42,560 --> 00:00:45,960 Speaker 1: grade of the Big Australian's iron or Rio. Tinto also 15 00:00:45,960 --> 00:00:48,200 Speaker 1: fell three point four percent, while four s QW Medals 16 00:00:48,280 --> 00:00:50,360 Speaker 1: was down close to five and a half percent. The 17 00:00:50,440 --> 00:00:53,840 Speaker 1: gold miners tumbled, as did the critical minerals groups. The 18 00:00:53,920 --> 00:00:56,640 Speaker 1: banks were mostly lower, though not as much as the index, 19 00:00:56,680 --> 00:01:01,000 Speaker 1: while healthcare and consumer staple stocks like woolies and coal outperformed. 20 00:01:01,400 --> 00:01:04,040 Speaker 1: Story number two that big drop on the local market 21 00:01:04,080 --> 00:01:08,319 Speaker 1: followed a wild ride on Wall Street. Markets initially opened 22 00:01:08,400 --> 00:01:11,600 Speaker 1: higher on the back of Envidia's strong result, but then 23 00:01:11,760 --> 00:01:15,800 Speaker 1: fear and volatility kicked in. In a few hours of trading, 24 00:01:16,240 --> 00:01:20,479 Speaker 1: two trillion US dollars three trillion Nouzzy was wiped off 25 00:01:20,480 --> 00:01:23,240 Speaker 1: the market. The broad based S and P five hundred 26 00:01:23,240 --> 00:01:26,000 Speaker 1: finished down one point six percent, while the tech heavy 27 00:01:26,080 --> 00:01:29,840 Speaker 1: NASTAC was off more than two percent. Crypto leader Bitcoin tumbled. 28 00:01:30,000 --> 00:01:32,720 Speaker 1: It's now trading around eighty eight thousand US dollars a unit, 29 00:01:33,000 --> 00:01:36,480 Speaker 1: having lost all of its gains over this year. While 30 00:01:36,520 --> 00:01:39,280 Speaker 1: there is plenty of trepidation about the AI boom at 31 00:01:39,280 --> 00:01:42,039 Speaker 1: the moment and whether it's a bubble, a mixed jobs 32 00:01:42,200 --> 00:01:45,440 Speaker 1: update also hurt the market. In September in the US, 33 00:01:45,520 --> 00:01:49,560 Speaker 1: one hundred and nineteen thousand new jobs were created above expectations, 34 00:01:49,760 --> 00:01:53,000 Speaker 1: but the job was right unexpectedly climbed to four point 35 00:01:53,080 --> 00:01:55,800 Speaker 1: four percent. There is just a lot more fear than 36 00:01:55,840 --> 00:01:58,520 Speaker 1: greed in the US and Australian economies at the moment. 37 00:01:58,880 --> 00:02:02,040 Speaker 1: Story number three. The Bureau of Meteorology has declared a 38 00:02:02,120 --> 00:02:07,040 Speaker 1: cyclone warning for Darwin as tropical Cyclone Feena moves towards 39 00:02:07,080 --> 00:02:10,400 Speaker 1: the northern Territory. The tropical cyclone is currently a Category 40 00:02:10,400 --> 00:02:12,919 Speaker 1: one storm, but the Weather Bureau of forecasts it will 41 00:02:12,919 --> 00:02:18,600 Speaker 1: strengthen over the weekend, potentially reaching category three early on Friday. 42 00:02:18,680 --> 00:02:21,800 Speaker 1: This morning, Cyclone Fena was sustaining winds near the center 43 00:02:21,840 --> 00:02:24,680 Speaker 1: of seventy five kilometers an hour with gusts of up 44 00:02:24,720 --> 00:02:27,160 Speaker 1: to one hundred kilometers an hour, and was about three 45 00:02:27,200 --> 00:02:30,040 Speaker 1: hundred and thirty five kilometers northeast of Darwin, moving slowly. 46 00:02:30,280 --> 00:02:34,799 Speaker 1: It's set to continue southwest through the Van Demon Gulf tomorrow, 47 00:02:35,120 --> 00:02:37,560 Speaker 1: heading just to the north of Darwin, now within gus 48 00:02:37,600 --> 00:02:40,079 Speaker 1: astrong as one hundred and fifty five kilometers an hour 49 00:02:40,120 --> 00:02:44,000 Speaker 1: may develop as the system nears the coast early tomorrow. 50 00:02:44,639 --> 00:02:47,400 Speaker 1: Story number four treasure Jim Chalmers has blocked a six 51 00:02:47,560 --> 00:02:50,400 Speaker 1: hundred and seventy two million dollar bid for main Farmer 52 00:02:50,720 --> 00:02:55,440 Speaker 1: on national interest grounds, killing the controversial transaction and basically 53 00:02:55,480 --> 00:03:00,400 Speaker 1: granting the wish of the ASX listed drug manufacturer's reluctant suitor, 54 00:03:00,840 --> 00:03:04,360 Speaker 1: a US crowd called Cosette. Cosette's, a private equity backed 55 00:03:04,480 --> 00:03:07,960 Speaker 1: healthcare giant, was attempting to back out of the takeover 56 00:03:08,040 --> 00:03:11,200 Speaker 1: offer and had threatened to close the company's Adelaide manufacturing plant, 57 00:03:11,400 --> 00:03:14,320 Speaker 1: which employs two hundred people. It had already lost court 58 00:03:14,440 --> 00:03:17,040 Speaker 1: action in the New South Wales Supreme Court in which 59 00:03:17,040 --> 00:03:19,720 Speaker 1: it was trying to dump the deal now. Charmers said 60 00:03:19,760 --> 00:03:22,239 Speaker 1: the final decision was based on Foreign Investment Review Board 61 00:03:22,280 --> 00:03:26,000 Speaker 1: advice and Quasha's shareholders hopes that a Takeover's Panel ruling 62 00:03:26,280 --> 00:03:29,880 Speaker 1: this week could have saved the deal. What's it all about? Well, 63 00:03:30,080 --> 00:03:33,480 Speaker 1: Main Farmer's share price fell twenty three percent today to 64 00:03:33,520 --> 00:03:38,520 Speaker 1: four dollars forty five. Casette's offer was seven dollars forty 65 00:03:39,080 --> 00:03:42,720 Speaker 1: That's a big difference. Story number five. Star Entertainment's proposed 66 00:03:42,760 --> 00:03:46,640 Speaker 1: new owners, Bally's Corporation, has received probity approval from the 67 00:03:46,680 --> 00:03:50,080 Speaker 1: New South Wales regulator, meaning the American casino and entertainment 68 00:03:50,120 --> 00:03:53,520 Speaker 1: giant can take control of the group. The New South 69 00:03:53,520 --> 00:03:56,920 Speaker 1: Wales Independent Casino Commission said Bally's had cleared an executive 70 00:03:56,960 --> 00:04:00,640 Speaker 1: probity investigation that was assessing whether it was financially suitable 71 00:04:00,760 --> 00:04:04,160 Speaker 1: to operate a casino. Bally's and the billionaire Matheson family 72 00:04:04,200 --> 00:04:06,800 Speaker 1: made a three hundred million dollar offer for Star five 73 00:04:06,840 --> 00:04:10,120 Speaker 1: months ago. The decision does not affect the current state 74 00:04:10,200 --> 00:04:12,800 Speaker 1: of the Star's license to operate a casino in Sydney, 75 00:04:13,080 --> 00:04:17,320 Speaker 1: which remained suspended and overseen by independent manager Nick Weeks. 76 00:04:17,480 --> 00:04:19,680 Speaker 1: That's it for the afternoon report for Friday, the twenty 77 00:04:19,680 --> 00:04:21,720 Speaker 1: first of November twenty twenty five. Make sure you hit 78 00:04:21,760 --> 00:04:23,760 Speaker 1: follow on the podcast and had Along to Fear in 79 00:04:23,800 --> 00:04:25,520 Speaker 1: Greed dot Com Today you to sign up for our 80 00:04:25,560 --> 00:04:28,719 Speaker 1: pre daily newsletter. I'm Chane Elmer and Joey Reagley.