Rio Tinto Drops Nearly 5% in One Session, Shedding About $5 Billion
As seen on the 24/7 Wall St. homepage on October 29, 2026.
A 4.81% intraday slide to $81.32 strips roughly $5 billion off a $102 billion miner in a single session, an outsized one-day move for a mega-cap this size. Whether it holds the $81 handle into the close is the thing to watch.
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Rio Tinto held steady near its opening level through the first half of the session, then the calm broke.
Selling pressure accelerated around midday and the stock never reclaimed ground, with shares falling to $81.32, a decline of 4.8%.
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A move of that size on a miner with a market capitalization around $102 billion strips roughly $5 billion of value in a single session. That is an outsized swing for a mega-cap.
The $81 handle is the immediate level to follow into the close. A break below it would extend the loss and add technical pressure.
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Mentioned: RIO