US sharemarkets fell sharply as investors rotated out of technology stocks and reduced exposure to high-growth names. The S&P 500 dropped 0.84 per cent, the Dow Jones slipped 0.34 per cent after briefly hitting a record high, and the Nasdaq fell 1.43 per cent, weighed down by heavy losses across software and artificial-intelligence stocks. Major technology names declined broadly, with sharp falls in several software companies, while pockets of strength emerged in more defensively positioned stocks, including consumer staples, banks and select retailers. The risk-off tone extended beyond equities, with bitcoin sliding to its lowest level since November, even as gold, silver and oil prices rebounded.
In Australia, the sharemarket is expected to open lower in response to the Wall Street sell-off, with ASX 200 futures pointing to a 0.6 per cent decline. Llocal focus turns to upcoming earnings from Amcor, Centuria Office REIT, Charter Hall Social Infrastructure REIT and Pinnacle Investment Management, alongside Nufarm’s annual general meeting. On the data front, New Zealand is set to release fourth-quarter labour market figures, while global markets are watching a busy week of PMI data and US employment indicators for signals on economic momentum and policy direction.
In company news,
Nimy ships first gallium ore to US as Western supply chain advances
Nimy Resources (ASX:NIM) has shipped its first high-grade gallium ore from the Block 3 deposit at its Mons Project in Western Australia to US partner M2i Global. The material will be analysed by academic institutions and defence-linked groups to determine optimal processing routes for use in US defence and national security applications. With a JORC resource of 2,700 tonnes of contained gallium, the shipment marks a key step toward establishing a non-Chinese supply chain, shifting the company’s focus toward metallurgical work and future development and offtake options in the United States.
First Graphene opens commercial pathway into India and Middle East
First Graphene (ASX:FGR) has signed a distribution agreement and memorandum of understanding with India-based Syron GreenThrust Dynamics, creating a new commercial pathway for its PureGRAPH® products across India, the UAE and SAARC nations. The three-year agreement includes a structured volume ramp-up from 0.25 tonnes in year one to 20 tonnes per annum, with demand at that level triggering an option to negotiate in-country manufacturing in India. The deal provides immediate access to large construction, energy, hydrogen and advanced materials markets, offering both near-term revenue potential and longer-term strategic expansion opportunities.
Synlait flags heavy first-half loss as restructuring continues
Synlait Milk (ASX:SM1) has warned it expects a reported EBITDA loss of between $28m and $33m for the first half of FY26, with a net loss after tax of up to $82m, as manufacturing disruptions, inventory rebuilds and weaker commodity returns weigh on performance. The company is in the process of selling its North Island assets, with completion due on 1 April 2026, a move expected to materially reduce debt and refocus operations on Canterbury. While manufacturing issues at Dunsandel have largely been resolved, Synlait said its recovery will take time, with further detail due when half-year results are released in March.
