The Australian sharemarket extended losses on Tuesday, with energy and health care dragging the benchmark lower despite growing optimism on Wall Street that the Federal Reserve will cut rates next week.
The S&P/ASX 200 Index dropped 46.1 points or 0.5% to 8,803.5, with nine of 11 sectors finishing in the red.
Energy stocks continued to slide after OPEC+ agreed to lift production by 137,000 barrels a day from October; Woodside fell 1.2%, Beach Energy dipped 1.3%, Viva Energy eased 0.5% and Santos lost 0.9%.
Health care also underperformed, led by CSL, down 1.6% as the company traded ex-dividend, while Ramsay Health Care and Pro Medicus slid 0.4% apiece, while Sonic Healthcare lost 1.1%.
In corporate news, Telix Pharmaceuticals rose 1.6% after securing a deal with the United States Food and Drug Administration to resubmit its application for approval of its brain cancer imaging agent with additional clinical data.
BHP slipped 1% after agreeing to pay A$110 million to settle a class action with Australian investors who had purchased shares ahead of the 2015 Fundão dam collapse.
On the bond markets, yields edged higher, with the 10-year and 2-year notes each up 0.6% at 4.274% and 3.374%, respectively.
