By Oliver Gray
Investing.com - The S&P/ASX 200 fell 85.1 points or 1.2% to 6,961.8 during Tuesday’s trading session, extending losses of 1% in the previous session amid renewed recession fears as investors digested a fresh batch of local earnings reports.
Among stocks, Consumer Staples led declines, falling 3.8% collectively as Endeavour Group Ltd (ASX:EDV) tanked 12.3% after reporting results. Woolworths Ltd (ASX:WOW) lost 2.9%, Coles Group Ltd (ASX:COL) fell 3.4% and Graincorp Ltd (ASX:GNC) lost 3.8%.
Financials fell 2.1%, with Macquarie Group Ltd (ASX:MQG) down 3.4%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) falling 1.7%, while Westpac Banking Corp (ASX:WBC), Commonwealth Bank Of Australia (ASX:CBA) and National Australia Bank Ltd (ASX:NAB) fell 2% apiece.
Among reporting companies, Kogan.com Ltd (ASX:KGN) lost 6.6% after posting a $35.5 million loss, while Altium Ltd (ASX:ALU) popped 19.8% after beating earnings expectations.
On the bond markets Australia 10-Year rates were at 3.598% while United States 10-Year yields were at 3%.
In New Zealand, the NZX 50 fell 1% to 11,643.2.