FEAR & GREED | Business News Afternoon Report | System outage sparks market chaos
Dec 1, 2025
A major system outage at ASX sent markets spiraling downward, halting trading and triggering chaos. Concerns arise as the closure of Eraring power station could lead to blackouts in NSW. Woolworths steps up its game with enhanced delivery options just in time for the bustling festive season. Meanwhile, US-Venezuela tensions escalate with a stern ultimatum issued. And in F1 news, a strategic blunder leaves Oscar Piastri's championship hopes hanging by a thread.
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Trading Halt Chaos Hits ASX
- A system outage prevented the ASX from publishing market-sensitive announcements for about three hours and forced ~80 companies into extended trading halts.
- The interruption deepened investor angst and knocked ASX Ltd. shares down nearly 3%.
Sector Rotation Into Commodities
- Sector shifts saw healthcare stocks like CSL and Sigma fall while miners and commodities rose as investors rotated into resources.
- Metcash slumped over 9% after weak half-year revenue and AUB plunged ~18% after ending takeover talks.
Eraring Closure Threatens Grid Stability
- AEMO warns Eraring's 2,880MW closure in 2027 risks NSW blackouts not from energy shortfall but from lack of system strength services.
- System strength, historically provided by coal, acts as a grid 'shock absorber' vital for voltage and frequency stability with rising wind and solar.