Australia stocks lower at close of trade; S&P/ASX 200 down 1.60%

　　Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from global markets on Friday, as traders remain concerned the aggressive monetary tightening by global central banks to combat elevated inflation will push the global economy into a recession, rendering the mood in the markets extremely bearish. Asian markets closed mostly lower on Friday.

　　While the US Fed's projections pointed to an eventual tapering of rate hikes by next year, traders worry about the outlook for the global economy in the months ahead.

　　The worst performers of the session were Costa Group Holdings Ltd (ASX:), which fell 14.17% or 0.36 points to trade at 2.18 at the close. At the close in Sydney, the S&P/ASX 200 lost 1.60% to hit a new 3-months low.

　　The best performers of the session on the S&P/ASX 200 were Nanosonics Ltd (ASX:NAN), which rose 4.68% or 0.16 points to trade at 3.58 at the close. Meanwhile, Megaport Ltd (ASX:MP1) added 3.62% or 0.26 points to end at 7.44 and Rea Group Ltd (ASX:REA) was up 3.49% or 4.02 points to 119.15 in late trade.

　　The worst performers of the session were Costa Group Holdings Ltd (ASX:CGC), which fell 14.17% or 0.36 points to trade at 2.18 at the close. Whitehaven Coal Ltd (ASX:WHC) declined 14.02% or 1.29 points to end at 7.91 and St Barbara Ltd (ASX:SBM) was down 10.46% or 0.08 points to 0.69.

　　The number of Falling stocks passed above advancing ones on the Sydney Stock Exchange by 1206 to 260 and 301 ended unchanged.

　　Shares in Costa Group Holdings Ltd (ASX:CGC) fell to 5-year lows; down 14.17% or 0.36 to 2.18. Shares in St Barbara Ltd (ASX:SBM) fell to 5-year lows; down 10.46% or 0.08 to 0.69.

　　The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 11.14% to 21.19 a new 3-months high.

　　Gold Futures for December delivery was down 0.22% or 3.65 to $1,651.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.46% or 0.36 to hit $78.38 a barrel, while the December Brent oil contract fell 0.55% or 0.47 to trade at $84.56 a barrel.

　　AUD/USD was unchanged 0.28% to 0.65, while AUD/JPY fell 0.01% to 93.53. And The US Dollar Index Futures was up 0.18% at 113.17.