The Australian market experienced a dismal day, weighed down by heavy losses from the big banks and health care stocks, dragging the ASX index to the key 5,000-point mark. All sectors finished lower, with health care being the worst performer. The Australian dollar depreciated against the green back but experienced mixed results against other major currencies.

Asian shares have struggled to find their footing and the US dollar clawed back ground lost after downbeat economic data contributed to an uninspiring session on Wall Street.

UK shares have underperformed Europe stocks, giving up early gains after a drop in commodity-related items intensified and banks turned lower following the Bank of England's latest financial stability report.

US stocks pared early losses to trade mixed on Tuesday morning as oil fell and ahead of a speech from Fed Chair Janet Yellen. Stocks rose after Yellen announced that the Fed needed to proceed cautiously on raising interest rates given fears about the domestic and global economies.

The Australian market looks set to open higher following gains on Wall Street after US Federal Reserve chair Janet Yellen said the central bank should proceed 'cautiously' on raising interest rates. In local economic news Today, the ANZ-Roy Morgan weekly consumer confidence survey is due out.

Crowe Horwath Australasia Ltd. issued this content on 30 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 March 2016 01:51:22 UTC

Original Document: http://www.crowehorwath.net/AU/news/daily-market-summary.aspx