The Australian sharemarket retreated on Wednesday, snapping a three-day winning streak as risk-off sentiment returned to United States markets overnight.
The S&P/ASX 200 was down 32.1 points or 0.4% to 7,828.3, with 10 of 11 sectors trading lower.
Utilities led the declines, with Meridian Energy down 1.6%, Origin Energy falling 1.9%, and AGL Energy slipping 2%.
Australian real estate investment trusts (A-REITs) also struggled, with Mirvac, Goodman Group, Charter Hall, and Stockland each falling between 0.5% and 1.6%.
Technology stocks were broadly lower, following losses in U.S. tech shares. NextDC fell 1.4%, BrainChip Holdings dropped 4.3%, and Xero lost 0.9%.
Mineral Resources also fell 3.9% after temporarily suspending haulage operations on its Onslow iron haul road following a sixth road train crash.
Helia Group posted the largest loss on the index, tumbling 15.9% after trading ex-dividend.
Among corporate updates, Myer fell 1.3% after reporting flat first-half sales, with its net profit plunging 40% due to strategic review costs, impairments, and other significant charges.
WiseTech Global lost 2.3% after a board review shed new light on executive chairman Richard White’s conduct.
Webjet Group plunged 14.5% after issuing a strategic update that disappointed investors.
Traders are now shifting focus to the U.S. Federal Reserve’s monetary policy decision, due Thursday (AEDT). Investors are looking for insights into how America’s tariffs could impact economic growth and inflation, which could influence global market sentiment in the coming weeks.
On the bond markets, Australian 10-year and 2-year yields rose 0.4% and 0.3%, reaching 4.425% and 3.790%, respectively.
