By Oliver Gray
Investing.com - The S&P/ASX 200 fell 132.10 points or 1.97% to 6,568.10 during Thursday’s trading session, extending losses of 0.9% in the previous session and closing out the worst financial year since 2011, with markets pulling back from record highs as central banks across the world raised interest rates aggressively to fight surging inflation pressures.
Among stocks, Utilities fell 2.9% collectively, with Meridian Energy Ltd (ASX:MEZ) down 2.4%, Mercury NZ Ltd (ASX:MCY) dipping 3%, Origin Energy Ltd (ASX:ORG) down 3.4% and AGL Energy Ltd (ASX:AGL) losing 1.7%.
Materials finished 2.8% lower with Rio Tinto Ltd (ASX:RIO) down 3.3%, BHP Billiton Ltd (ASX:BHP) falling 3.5%, Fortescue Metals Group Ltd (ASX:FMG) down 4.7% and Champion Iron Ltd (ASX:CIA) down 2.9%
Energy dipped 2.5% overall as Woodside Energy Ltd (ASX:WDS) lost 3%, Santos Ltd (ASX:STO) fell 1.6%, Beach Energy Ltd (ASX:BPT) dipped 3.6% and Viva Energy Group Ltd (ASX:VEA) dropped 1.7%.
On the bond markets, Australia 10-Year yields were at 3.664% United States 10-Year yields fell to 3.082%.
In New Zealand, the NZX 50 dipped 0.8% to 10,868.7.