Australian Energy Stocks Plunge as Panic Selloff Expands

Australia’s ASX energy index plummeted by 8% at close on Friday amid rising concerns about economic growth and oil demand in continued panic selling in all major markets after the U.S. tariff announcement. The S&P/ASX 200 Energy [XEJ] index consists of the 11 companies in the S&P/ASX 200 that are classified as members of the GICS Energy sector. The index is rebalanced quarterly and constituent businesses tend to center around oil, gas, and coal. Losses at the broader S&P/ASX 200 index were more contained and the index dropped…