Oil collapse hits Australian shares, but NZ up; Fed in focus [Reuters]
ORIGIN ENERGY UNSP/ADR (OGFGY)
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Source: Reuters
Oil collapse hits Australian shares, but NZ up; Fed in focus | Reuters 3 Min Read * Slowing global economy remains big worry, focus on Fed meet * Energy sector hit by oil plunge * New Zealand advances (Updates to close) By Nikhil Subba Dec 19 (Reuters) - Australian shares fell on Wednesday as plummeting oil prices hit energy stocks, while investors were also cautious before a crucial Federal Reserve rates meeting which is expected to reset U.S. monetary policy for the next year. Oil prices sank more than 5 percent on Tuesday to levels last seen in August 2017 on fears of rising supply at a time of slowing demand. Australia’s S&P;/ASX 200 index declined 0.2 percent or 8.9 points to close at 5,580.60, but was off a 1-1/2-week intraday low when it fell 0.6 percent. The Fed is expected to raise rates at the end of its meeting on Wednesday, though the main focus will be on whether policy makers will call a pause to their 3-year tightening spell. Market pricing and recent comments from seni
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