By Oliver Gray
Investing.com - The S&P/ASX 200 fell 97.2 points or 1.4% to 6,729.3 during Wednesday’s session, extending declines of 0.4% in the previous session and closing at 7-week lows as rising rates and concerns of slowing global growth sapped risk sentiment.
Among stocks, Energy led losses, down 2.9% as Woodside Energy Ltd (ASX:WDS) dipped 3.2%, Santos Ltd (ASX:STO) lost 1.6%, Beach Energy Ltd (ASX:BPT) fell 5.1% and Viva Energy Group Ltd (ASX:VEA) shed 7.1%.
Utilities fell 2.1% collectively, as Origin Energy Ltd (ASX:ORG) dipped 3.2%, AGL Energy Ltd (ASX:AGL) lost 3.6% and Meridian Energy Ltd (ASX:MEZ) dropped 3.3%.
Materials declined 2.1% with Rio Tinto Ltd (ASX:RIO) down 1.5%, BHP Group Ltd (ASX:BHP) falling 2.7%, Fortescue Metals Group Ltd (ASX:FMG) down 2.7% and Champion Iron Ltd (ASX:CIA) shedding 4.5%.
On the bond markets, Australia 10-Year yields were at 3.725% while United States 10-Year rates were at 3.346%
In New Zealand, the NZX 50 fell 0.6% to 11,548.