Aussie shares drop as ceasefire frays, CSL plunges
Investors are closely watching the market after the US rejected a Middle East peace plan. -AAP Image
The local share market has slipped after the US rejected Iran's latest peace proposal to end the Middle East war, and as a huge plunge by a prominent biotech name weighed on the bourse.
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The S&P/ASX200 index on Monday fell 42.6 points, or 0.49 per cent, to 8,701.8, while the broader All Ordinaries dropped 38.1 points, or 0.42 per cent, to 8,942.4.
The health care sector dropped 6.5 per cent as CSL sank 16.0 per cent to a more than nine-year low of $100.75 on profit downgrades and asset write-offs.
In currency, the Australian dollar remained at a near four-year high against its US counterpart, buying 72.35 US cents, from 72.24 US cents about 5pm on Friday.
