The local market fell for a third straight day, sliding 0.3% to reach a one-month low. Sentiment soured after President Trump dismissed Iran’s latest peace proposal as "garbage," warning that the ceasefire is on "life support". While the ASX remained cautious ahead of tonight’s Federal Budget, the index has shed 2.5% over the past three sessions. BHP hit a record high of $60 per share, overtaking CBA as Australia's largest company. Conversely, DroneShield cratered 10% following an ASIC investigation into executive share sales, and Life360 tumbled 11% after user growth failed to meet expectations.

Steve Daghlian and Laura Besarati are Market Analysts at CommSec. Each episode, they break down the day's market movements and explain what the numbers really mean.

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