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ASX Midday Sector Update: Financials Stocks Lead Broad Market Declines

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-- All sectors on the Australian Securities Exchange were in the red in midday trading on Friday, with financial stocks falling past 2% to lead decliners, as oil prices climbed after reports of clashes between the US and Iran in and around the Strait of Hormuz.

Commonwealth Bank of Australia (ASX:CBA) and Westpac Banking (ASX:WBC) both shed more than 2%, while National Australia Bank (ASX:NAB) was nearly 3% lower. Shares of Macquarie Group (ASX:MQG) were down more than 2% after earlier hitting a record high following its fiscal year 2026 results.

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