By Oliver Gray
Investing.com - The S&P/ASX 200 fell 32.4 points or 0.5% to 7,180.8 during Monday’s trade, extending losses of 1.3% in the previous week and trading at 3-week lows amid heavy losses in the Utilities sector after the Federal government intervened in the gas and coal markets last Friday.
Among stocks, Origin Energy Ltd (ASX:ORG) shed 7.8% while AGL Energy Ltd (ASX:AGL) dropped 2.6%.
Materials fell 1.5% collectively, with Rio Tinto Ltd (ASX:RIO) down 0.7%, BHP Group Ltd (ASX:BHP) falling 1.5%, Fortescue Metals Group Ltd (ASX:FMG) down 1.3% and Champion Iron Ltd (ASX:CIA) losing 1.6%.
Staples lost 1.1% overall as Woolworths Ltd (ASX:WOW) lost 1.3%, Coles Group Ltd (ASX:COL) fell 0.9% Endeavour Group Ltd (ASX:EDV) shed 1.4% and Inghams Group Ltd (ASX:ING) fell 2.8%.
On the bond markets, Australia 10-Year rates were at 3.388% while United States 10-Year yields were at 3.567%.
In New Zealand, the NZX 50 fell 0.8% to 11,506.5.