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Business

Derek Rose

EXPLAINED: Aussie shares drop as ceasefire frays csl plunges - The Real Truth

CSL Donald Trump United States Josh Gilbert Iran BHP

Investors are closely watching the market after the US rejected a Middle East peace plan. (Lukas Coch/AAP PHOTOS)

The local share market has slipped after the US rejected Iran's latest peace proposal to end the Middle East war, and as a huge plunge by a prominent biotech name weighed on the bourse.

The S&P/ASX200 index on Monday fell 42.6 points, or 0.49 per cent, to 8,701.8 while the broader All Ordinaries dropped 38.1 points, or 0.42 per cent, to 8,942.4.

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