By Oliver Gray
Investing.com - The S&P/ASX 200 fell 85 points or 1.27% to 6,601 during Wednesday’s trading session, extending losses for the fourth consecutive day and closing at fresh 16-month lows amid growing inflation fears fueled investor speculation of further aggressive tightening of monetary policies from central bank officials.
Among stocks, Information Technology lost 3.1% collectively, with Block Inc (ASX:SQ2) down 7.1%, Appen Ltd (ASX:APX) falling 5.6%, Megaport Ltd (ASX:MP1) shedding 11.1%, Link Administration Holdings Ltd (ASX:LNK) down 5.3% and Novonix Ltd (ASX:NVX) tumbling 13.6%.
Real estate companies retreated 2.9% overall as Mirvac Group (ASX:MGR) fell 2.4%, Charter Hall Group (ASX:CHC) dipped 7.1%, Goodman Group (ASX:GMG) lost 4.4% and Scentre Group Ltd (ASX:SCG) lost 2%.
Energy dipped 2.4%, with Woodside Energy Ltd (ASX:WDS) declining 3.1%, Santos Ltd (ASX:STO) falling 1%, Beach Energy Ltd (ASX:BPT) down 3.1% and Viva Energy Group Ltd (ASX:VEA) losing 2.1%.
On the bond markets, Australia 10-Year rates were at 8-year highs of 4.201% wile United States 10-Year yields were at 3.398%.
In New Zealand, the NZX 50 eased 0.1% to 10,636.