Friday's Close: The ASX 200 slipped 3.60 points or 0.04% to close at 8,881.90 on Friday, October 31, ending a tumultuous month on a relatively quiet note.

October's Chaos: The index erased all gains from the past 60 days, falling from near-record highs after hot inflation data killed hopes of another RBA rate cut. October historically averages the most volatile monthly range at 7.2%, and this year lived up to that reputation.

The Big Movers: Domino's Pizza was October's star performer, surging 35.9% on takeover speculation. Pilbara Minerals jumped 31% and Liontown Resources gained 19.2%. On the flip side, CSL crashed 15% in a single day after a revenue downgrade, while Wesfarmers plunged 7%.

What's Next: Markets are watching for next week's U.S. election results and the RBA's November meeting, with rate cut expectations now pushed to 2026.

October started with optimism. The ASX 200 surged to a fresh record high of 9,109.7 after soft September employment data reignited expectations of an RBA rate cut.

Then reality hit hard.

Hot CPI data on Wednesday, October 29 triggered the index's sharpest fall in eight weeks, killing any hope of another RBA rate cut this year. The benchmark index broke lower from a pattern near record highs in what traders call a "bearish range expansion day."

By Friday's close, the ASX 200 sat well below where it started the month, with the index up just 0.28% for October after giving back earlier gains.

"The monthly candle is on track to form a shooting star, warning that a larger bearish reversal could be developing," according to market analysts watching chart patterns.

The week's pivotal moment came Wednesday when Australia's quarterly inflation data came in hotter than expected. The Consumer Price Index showed inflation remains stubbornly elevated, forcing traders to abandon hopes for RBA rate cuts in 2025.

The ASX 200 suffered its worst day in eight weeks following the hot CPI report, with volatility spiking to a two-week high.

Banks bore the brunt of the selloff. Westpac fell 3% in its worst session in seven weeks, becoming the weakest performer of the big four banks. National Australia Bank........

© International Business Times