By Oliver Gray
Investing.com - The S&P/ASX 200 fell 69.4 points or 1% to 6,730.7 during Thursday’s session, snapping 2 days of consecutive advance as risk sentiment soured amid rising bond yields.
Among stocks, Information Technology retreated 3.8% overall as Block Inc (ASX:SQ2) dipped 7.9%, Megaport Ltd (ASX:MP1) dipped 11.8%, Xero Ltd (ASX:XRO) lost 5.2% and Altium Ltd (ASX:ALU) shed 7.2%.
Materials retreated 2.4%, with Rio Tinto Ltd (ASX:RIO) declining 1.9%, BHP Group Ltd (ASX:BHP) falling 2.3%, Fortescue Metals Group Ltd (ASX:FMG) down 4% and Champion Iron Ltd (ASX:CIA) down 4.4%.
Evolution Mining Ltd (ASX:EVN) shed 8% after releasing its quarterly update, flagging slowing production and weaker gold prices.
Energy bucked the trend, lifting 3.1% as Woodside Energy Ltd (ASX:WDS) and Santos Ltd (ASX:STO) posted strong quarterly updates, lifting 6.2% and 2% respectively.
On the bond markets, Australia 10-Year yields were at 4.066% while United States 10-Year rates reached fresh 14-year highs of 4.142%.
In New Zealand, the NZX 50lost 0.8% to 10,832.