​It wasn’t a great start to the week, not helped by a weak lead from Wall Street and ongoing Covid-19 outbreaks in Australia’s two most populous states. Picture: David Swift / NCA NewsWire
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ASX firmly red as outbreak worsens

​It wasn’t a great start to the week, not helped by a weak lead from Wall Street and ongoing Covid-19 outbreaks in Australia’s two most populous states. Picture: David Swift / NCA NewsWire

The Australian sharemarket was dragged lower by resources stocks and the big banks, while the travel sector was again hit hard by the worsening Delta outbreak in NSW and Victoria.

The S&P/ASX200 closed 0.85 per cent lower at 7286 while the All Ordinaries Index fell 0.93 per cent to 7559.7.

CommSec analyst James Tao said it wasn’t a great start to the week, not helped by a weak lead from Wall Street and ongoing Covid-19 outbreaks in Australia’s two most populous states.

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The loss follows the ASX gaining 1 per cent last week – its best week in seven weeks.

Among the miners, Rio Tinto shed 2.12 per cent to $127.83, BHP slid 2.64 per cent to $50.50 and Fortescue dropped 1.4 per cent to $25.42.

Battery technology company Novonix plunged 10 per cent to $2.61.

OceanaGold lost 4.2 per cent…

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