By Oliver Gray
Investing.com - The ASX 200 has fallen 57.00 points or 0.77% to 7,390.10 on Tuesday following declines of 0.1% as investors remained cautious as central banks prepare to lift interest rates in order to fight surging inflationary pressures.
The Consumer Staples sector led declines, falling 2.12%, with Inghams Group Ltd (ASX:ING) leading losses, posting a 5.95% drop after reporting that Omicron was disrupting its operations and weighing on sales performance. Woolworths Ltd (ASX:WOW) lost 2.1%, Coles Group Ltd (ASX:COL) fell 2.46%, Elders Ltd (ASX:ELD) lost 1.46% and Metcash Ltd (ASX:MTS) dipped 2.06%.
Technology companies eased from early gains to close 0.66% lower, with Appen Ltd (ASX:APX) down 0.71%, Megaport Ltd (ASX:MP1) falling 0.49%, Link Administration Holdings Ltd (ASX:LNK) up 0.18% and Brainchip Holdings Ltd (ASX:BRN) lifting 4.85%. Xero Ltd (ASX:XRO) lost 0.97%, Wisetech Global Ltd (ASX:WTC) fell 0.73%, Technology One Ltd (ASX:TNE) fell 1.55%, Altium Ltd (ASX:ALU) lost 2.9%, while Novonix (ASX:NVX) Ltd added 3.64%.
Afterpay Touch Group Ltd (ASX:APT) added 1.7% while Zip Co Ltd (ASX:Z1P) lifted 1.82%.
AGL Energy Ltd (ASX:AGL) lifted 2.05%, while Polynovo Ltd (ASX:PNV) surged 24.83% after reporting another month of record sales in the US.
Meantime, ARB Corporation Ltd (ASX:ARB) fell 12.31%.
Financials retreated 1%, with Macquarie Group Ltd (ASX:MQG) down 1.42%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) falling 1.3%, Commonwealth Bank Of Australia (ASX:CBA) down 1.51%, National Australia Bank Ltd (ASX:NAB) losing 0.51% and Westpac Banking Corp (ASX:WBC) shedding 0.73%.
On the bond markets, Australia 10-Year yields lifted to 1.883%, while United States 10-Year rates were just off 2-year highs at 1.764%.
Among data, retail sales surged 7.3% in November, posting the 4th-strongest monthly rise in the series and lifting sales to their highest level ever recorded as pent-up demand was unleashed in the pre-Christmas and Black Friday sales period, as the country emerged from a tough pandemic lockdown. Meantime, Australia's trade surplus fell to the lowest since April, as exports grew 2%, while imports rose at a faster 6%.