ASX drops 1.2% amid health sector collapse and geopolitical uncertainty. The Australian market struggled Wednesday as the health sector plummeted over 5.7%, with major companies Cochlear and CSL posting significant losses. Bank of Queensland fell 9% citing economic headwinds and margin pressure, while financial stocks tracked the broader decline as CBA and Westpac posted losses. The Trump administration extended its Iran ceasefire indefinitely, but failed peace talks and unresolved Strait of Hormuz access questions dampened investor sentiment. Ampol emerged as a bright spot, gaining 4% on stronger refining margins, while 3D printing developer 333D surged over 100%. The broader market weakness reflects investor concerns about economic conditions and geopolitical risks.
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