By Oliver Gray
Investing.com - The S&P/ASX 200 fell 39.8 points or 0.5% to 7,490.3 during Thursday’s trading session, reversing gains of 0.4% in the yesterday, with market participants tracking a negative session among U.S. equities overnight as interest rate expectations creep higher amid hawkish Fed rhetoric.
Among stocks, utilities lost 2.5% overall, with AGL Energy Ltd (ASX:AGL) tanking 10.3% reporting half-year losses of over A$1 billion.
Real estate fell 1.6% with Mirvac Group (ASX:MGR) down 4.6%, Goodman Group (ASX:GMG) falling 1.3%, Charter Hall Group (ASX:CHC) down dipping 1.6% and Stockland Corporation Ltd (ASX:SGP) down 2.3%.
Information technology declined 1.1% with Block Inc (ASX:SQ2) falling 2.6%, Megaport Ltd (ASX:MP1) falling 4.7% and Novonix Ltd (ASX:NVX) down 5.4%.
Staples also fell 0.8% as Woolworths Ltd (ASX:WOW) lost 0.8%, Coles Group Ltd (ASX:COL) fell 1.2%, Endeavour Group Ltd (ASX:EDV) dipped 1.8% and Metcash Ltd (ASX:MTS) lost 1%.
On the data front, building approvals came in at 5-month highs of 18.5%, well above expectations of 1%.
On the bond markets Australia 10-Year rates were at 3.675%.