Investing.com - The S&P/ASX 200 dipped 58.1 points or 0.8% lower at 7,209.3 after the first 40 minutes of Wednesday's trade, following a surprise 25 basis point rate hike by the Reserve Bank of Australia on Tuesday, with renewed banking concerns in the U.S. also sapping risk sentiment.
ASX 200 Futures were trading 0.2% lower.
Among stocks, Energy and Financials led declines, with Woodside Energy Ltd (ASX:WDS) down 2.8%, Santos Ltd (ASX:STO) down 2.5%, Beach Energy Ltd (ASX:BPT) losing 2.3%, while Commonwealth Bank Of Australia (ASX:CBA) fell 1.9%, ANZ Group Holdings Ltd (ASX:ANZ) dipped 2% and Westpac Banking Corp (ASX:WBC) lost 1.8%.
Ahead in the session, investors will be monitoring preliminary retail sales data.
On the bond markets, Australia 10-Year rates were at 3.377%.
In New Zealand, the NZX 50 fell 1% to 11,912.7.