The S&P/ASX 200 fell 44 points, or 0.5%, to close at 8,917 on Monday, extending losses from the prior session as U.S. stock futures tumbled as Washington is moving to impose a blockade on Iranian shipping after weekend peace talks collapsed. President Trump also warned that oil and gasoline prices could stay elevated through the November midterm elections, underscoring potential political risks from the conflict. Traders remained cautious ahead of China’s March trade data due Tuesday, a key gauge for Australia’s export outlook. Focus will also turn to domestic labor market figures later this week. Most sectors ended in the red, led by losses in consumer non-durables, commercial services, and process industries. Mining stocks were among the worst performers, including Regis Resources (-3.9%), Evolution Mining (-3.4%), and Ramelius Resources (-2.7%). In contrast, energy stocks advanced, lifted by higher oil prices, with Woodside Energy and Ampol each rising 2.6%, and Santos gaining 1.9%.
