FEAR & GREED | Business News Afternoon Report | CSL fall drags ASX down
Aug 19, 2025
The ASX faces a slump, primarily due to a significant fall in CSL's stock, while political commentary swirls around economic reform. A major cyber attack has put iiNet users on high alert, with crucial data compromised. Tensions are rising internationally, as discussions about Israel's visa policies spark controversy, and diplomatic efforts concerning Ukraine are under scrutiny, especially with Trump and Zelensky's recent meeting.
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Market Pullback Led By CSL Shock
- The ASX 200 fell 0.7% to 8,896, ending its recent record run and signaling a broad market pullback.
- CSL's 16.9% plunge and 3,000 job cuts led losses, while miners and banks showed mixed resilience.
PM Rejects Targeting RBA Governor
- Prime Minister Anthony Albanese denied targeting Reserve Bank Governor Michelle Bullock despite a pointed comment at a reform roundtable.
- The PM emphasised falling interest rates, rising real wages and a low 4.2% unemployment rate as government priorities.
Large TPG Telecom Data Breach
- A major cyber breach at TPG Telecom exposed hundreds of thousands of customer records, including email addresses and modem passwords.
- Investigations focus on possible malware on a former employee's phone and stolen access credentials used on call-centre systems.