Treasury Wine Estates Ltd (TWE.AU) shares plummeted 5.03% during intraday trading, extending recent losses for the Australian winemaker.
The sharp decline followed the company's announcement that it paused its dividend and swung to a A$649.4 million statutory loss for the half-year period. The company also recorded a A$770.5 million impairment on its U.S. assets, contributing to the negative investor sentiment.
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