ASX 200 jumps while Commonwealth Bank of Australia nosedives before recovering after suffering its worst day since April

Sky News AU

23-07-2025

The ASX 200 has jumped on Wednesday while the index's largest company plummeted before recovering its losses following a wipeout on Tuesday.
The bourse jumped 0.3 per cent in the first 70 minutes of trading.
Commonwealth Bank of Australia plunged about one per cent before more than recovering after suffering its worst day since April on Tuesday when the bank shed more than three per cent.
CBA's dive follows it soaring more than 45 per cent in the 12 months to the end of June, boosting its market cap to about $300b before starting to fall.
Meanwhile, Telix Pharmaceuticals has plummeted 15.1 per cent after revealing the US Securities and Exchange Commission issued it a subpoena for more information on disclosures about its prostate cancer therapies.
Energy giant Woodside is up 1.8 per cent after reporting a jump in its oil production to 50 million barrels in the second quarter of 2025.
Aluminium producer Alcoa Corporation has added four per cent, hardware manufacturer James Hardie is up 4.5 per cent and Whitehaven Coal has surged 4.2 per cent.
It follows the index rising on Tuesday before almost completely undoing the gain and finishing up about 0.1 per cent.
The performance on Wall Street was mixed with the Dow Jones rising 0.4 per cent, the S&P 500 adding 0.1 per cent and the Nasdaq sinking 0.4 per cent on Tuesday.
London's FTSE 250 Index and the STOXX Europe 600 both sank 0.4 per cent while Germany's DAX fell 1.1 per cent.
Since trading began on Wednesday, New Zealand's NZX 50 index is down 0.5 per cent and Japan's Nikkei 225 has soared 1.9 per cent.