FEAR & GREED | Business News Afternoon Report | ASX falls, Fed cuts rates, Santos tumbles
Sep 18, 2025
Markets experienced a decline following a cautious rate cut from the Fed and the withdrawal of Santos' $36 billion takeover bid. The Albanese government announced a bold 2035 emissions target, prompting discussions around climate policy. Kmart faced backlash for breaching privacy during facial recognition trials. Excitingly, Tesla launched its supervised self-driving features in Australia. Meanwhile, King Charles emphasized the importance of US support for the AUKUS pact while also backing Ukraine in its ongoing conflict.
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Markets React To Fed Caution And Santos Shock
- The ASX 200 fell 0.8% after mixed leads and a cautious Fed despite a 0.25% rate cut overnight.
- Santos plunged nearly 12% after ADNOC withdrew its $36bn takeover, dragging other energy stocks down.
Jobs Data Shows Softening Labour Market
- Unemployment held at 4.2% but the labour market showed signs of softening with 5,400 jobs lost in August.
- Markets priced the weaker jobs data alongside sector-specific shocks, amplifying the sell-off.
New 2035 Emissions Target Set
- The Albanese government set a 2035 emissions target of 62–70% below 2005 levels, signed off by cabinet.
- The range undercuts the Climate Change Authority's 65–75% recommendation and will be backed by policies across electricity, transport and industry.