The Australian sharemarket closed lower on Thursday as investors reacted to signals from the United States Federal Reserve that interest rates could rise later this year, prompting broad-based selling across technology, mining and energy stocks.
The S&P/ASX 200 Index fell 55.2 points, or 0.6%, to 8,911.1, with eight of the market's 11 sectors finishing in negative territory.
Technology stocks led the declines as higher interest rate expectations weighed on growth-oriented sectors.
WiseTech Global fell 3.4%, Xero dipped 3.9%, and TechnologyOne ended 1.2% lower.
Real estate investment trusts also came under pressure, as Goodman Group lost 1.2%, Mirvac Group fell 1.1%, and Scentre Group closed 0.8% lower.
The Materials sector was broadly weaker, with major miners retreating; BHP Group dipped 0.8%, Rio Tinto lost 2%, and Fortescue posted losses of 1.7%.
Gold producers were also sold off after spot gold prices fell overnight following the Federal Reserve's hawkish policy outlook.
Northern Star Resources finished 1.6% lower, Evolution Mining lost 1.9%, and Newmont Corporation eased 0.4%.
Energy stocks extended recent losses as crude oil prices continued to retreat amid easing concerns over global supply disruptions following diplomatic developments in the Middle East.
Santos fell 0.4%, Woodside Energy dropped 1.2%, and Viva Energy closed 0.5% lower.
The Financial sector also weighed on the market, with Australia's major banks finishing mostly lower.
Commonwealth Bank and National Australia Bank dipped 0.9% apiece, Westpac Banking Corporation dropped 1.1%, while ANZ Group ticked up 0.3%.
Among individual companies, Washington H. Soul Pattinson gained 0.8% after announcing an agreement to sell its stake in Brickworks' industrial joint venture property trusts to Goodman Australia Industrial Partnership (GAIP) and Goodman Group entities for $1.89 billion.
On the bond markets, the Australian 10-year government bond yield fell 0.9% to 4.777%, while the two-year yield rose 0.6% to 4.483%.
