By Oliver Gray
Investing.com - The S&P/ASX 200 fell 61.9 points or 0.9% to 7,229.4 during Wednesday’s trade, extending declines of 0.5% in the previous session as lower crude oil prices and weaker than expected GDP data dented risk sentiment.
Among stocks, Information Technology led declines, down 3.3% as Block Inc (ASX:SQ2) lost 2.5%, Appen Ltd (ASX:APX) shed 3.3%, Megaport Ltd (ASX:MP1) lost 6.4% and Brainchip Holdings Ltd (ASX:BRN) fell 7.1%.
Energy fell 2% as Beach Energy Ltd (ASX:BPT) tanked 9.9%, Viva Energy Group Ltd (ASX:VEA) lost 3.8%, Woodside Energy Ltd (ASX:WDS) lost 1.6% and Santos Ltd (ASX:STO) fell 0.4%.
Consumer Discretionary fell 1.8% as JB Hi-Fi Ltd (ASX:JBH) lost 0.1%, Domino's Pizza Enterprises Ltd (ASX:DMP) dipped 5% and Aristocrat Leisure Ltd (ASX:ALL) lost 3%.
On the data front, quarterly GDP data came in at 0.6%, below analysts forecasts of 0.7% amid persistent inflation pressures and less commodity demand from China.
On the bond markets, Australia 10-Year rates were at 3.358% while United States 10-Year yields were at 3.548%.
In New Zealand, the NZX 50 fell 0.2% to 11,611.