By Oliver Gray
Investing.com - The S&P/ASX 200 lost fell 34.3 points or 0.5% to 7,291.3 during Tuesday’s trading session, reversing gains of 0.4% on Monday as Reserve Bank of Australia policymakers raised the official cash rate by 25 basis points, in-line with analyst expectations.
Among stocks, Information Technology lost 2.1% as Block Inc (ASX:SQ2) fell 5%, Appen Ltd (ASX:APX) sipped 8.5%, Megaport Ltd (ASX:MP1) fell 4.8% and Novonix Ltd (ASX:NVX) lost 4.4%.
Real Estate also dipped 1.1% as Goodman Group (ASX:GMG) declined 1.5%, Charter Hall Group (ASX:CHC) lost 3.2% and Stockland Corporation Ltd (ASX:SGP) fell 0.8%.
Materials also suffered, down 0.8% collectively as Rio Tinto Ltd (ASX:RIO) lost 0.3%, BHP Group Ltd (ASX:BHP) fell 0.4%, Fortescue Metals Group Ltd (ASX:FMG) lost 1.6%, while Champion Iron Ltd (ASX:CIA) added 0.4%.
Gold miners were hit amid a strengthening U.S. Dollar. St Barbara Ltd (ASX:SBM) shed 8.8%, Chalice Gold Mines Ltd (ASX:CHN) lost 3.8% and Northern Star Resources Ltd (ASX:NST) fell 2.1%.
On the bond markets, Australia 10-Year rates were at 3.401% while United States 10-Year yields were at 3.586%
In New Zealand, the NZX 50 fell 0.4% to 11,631.6.