By Oliver Gray
Investing.com - The S&P/ASX 200 fell 56.80 points or 0.78% to 7,261.20 during Wednesday’s trade, extending declines from the previous session and closing at fresh 6-week lows as investors digested local inflation data while tracking a strong retreat in U.S. equities overnight.
Among stocks, Information Technology fell 2.4% collectively, with Block Inc (ASX:SQ2) down 5.9%, Appen Ltd (ASX:APX) falling 4.3%, Altium Ltd (ASX:ALU) down 0.8% and Technology One Ltd (ASX:TNE) dipping 2.4%.
Consumer Staples suffered, down 1.9% as Woolworths Ltd (ASX:WOW) dropped 2.5%, Coles Group Ltd (ASX:COL) lost 2% and Graincorp Ltd (ASX:GNC) fell 2.2%.
Financials finished 1.6% lower overall as Australia and New Zealand Banking Group Ltd (ASX:ANZ) lost 2.6%, National Australia Bank Ltd (ASX:NAB) fell 1.7%, Westpac Banking Corp (ASX:WBC) lost 1.9% and Commonwealth Bank Of Australia (ASX:CBA) shed 1.7%.
Meanwhile, Energy companies are up 1% while Real estate stocks finished 0.3% higher.
Life360 Inc (ASX:360) also plummeted 29.4% after an update, while Credit Corp Group Ltd (ASX:CCP) shed 9.5%.
On the data front, consumer prices jumped by 2.1% through the first three months of the year, taking annual inflation to its highest level in more than 20 years.
On the bond markets, Australia 10-Year rates were at 3.058% while United States 10-Year yields were at 2.772%.
In New Zealand, the NZX 50 fell 0.7% to 11,726.