By Oliver Gray
Investing.com - The S&P/ASX 200 fell 33.7 points or 0.5% to 6,964.6 after the firs hour of Wednesday’s trade, reversing gains of 0.5% in the previous session as investors tracked broad losses on Wall Street overnight following last week’s hawkish comments from Federal Reserve officials.
S&P/ASX 200 Futures were pointing 0.5% higher.
Among stocks, Energy posted the greatest losses, down 2.6% as Woodside Energy Ltd (NYSE:WDS) fell 2.4%, Santos Ltd (ASX:STO) lost 2.6%, Beach Energy Ltd (ASX:BPT) fell 2.3%, Viva Energy Group Ltd (ASX:VEA) lost 1.5% and South32 Ltd (ASX:S32) lost 1.8%.
Materials fell 1.4% collectively, with Rio Tinto Ltd (ASX:RIO) down 1.1%, BHP Group Ltd (ASX:BHP) falling 2.5%, Fortescue Metals Group Ltd (ASX:FMG) down 3.3% and Champion Iron Ltd (ASX:CIA) falling 2.7%.
Consumer Discretionary was down 0.5% overall, as JB Hi-Fi Ltd (ASX:JBH) lost 1.4%, Domino's Pizza Enterprises Ltd (ASX:DMP) fell 0.2%, Tabcorp Holdings Ltd (ASX:TAH) lost 6.7% and Wesfarmers Ltd (ASX:WES) dipped 2.1%.
Among reporting companies, Pointsbet Holdings Ltd (ASX:PBH) shed 4.1% after the company announced its full-year results to the market this morning, with net losses growing to A$268 million in FY22, from $188 million in FY21.
Webjet Ltd (ASX:WEB) gained 8.2% after reporting that bookings were at 95% of pre-pandemic levels and that all three businesses were profitable.
On the bond markets, United States 10-Year rates were at 3.110% while Australia 10-Year yields were at 3.625%.
In New Zealand, the NZX 50 fell 0.3% to 11,610.1.