By Oliver Gray
Investing.com - The S&P/ASX 200 fell 75.4 points or 1% to 7,211.2 during Tuesday’s trading session as market participants remained cautious amid persisting inflation pressures across the Europe, while easing lockdown in China sparked a mini rally in commodities.
For the month of May, the ASX 200 fell by 1.85%.
Among stocks, Financials led the declines, down 2% as Macquarie Group Ltd (ASX:MQG) lost 1.1%. Australia and New Zealand Banking Group Ltd (ASX:ANZ) fell 2.8%, National Australia Bank Ltd (ASX:NAB) lost 1.9%, Westpac Banking Corp (ASX:WBC) slipped 1.5% and Commonwealth Bank Of Australia (ASX:CBA) lost 2.1%.
Information Technology fell 1.9% respectively, with Block Inc (ASX:SQ2) down 3%, Megaport Ltd (ASX:MP1) dipping 5.4%, Link Administration Holdings Ltd (ASX:LNK) down 2.7%, Novonix Ltd (ASX:NVX) falling 1.2% and Altium Ltd (ASX:ALU) down 2.8% while Appen Ltd (ASX:APX) and Brainchip Holdings Ltd (ASX:BRN) added 2.4% and 0.4% respectively.
Consumer Discretionary declined 1.5% with JB Hi-Fi Ltd (ASX:JBH) down 1.1%, Domino's Pizza Enterprises Ltd (ASX:DMP) losing 3.1%, Tabcorp Holdings Ltd (ASX:TAH) down 3.6%, Aristocrat Leisure Ltd (ASX:ALL) falling 2.7% and Wesfarmers Ltd (ASX:WES) down 1%.
On the data front, the ABS released Australia’s current account surplus for the March quarter, coming in below expectations of $13.2 billion. Investors will also be looking ahead to tomorrow’s quarterly GDP data.
On the bond markets, Australia 10-Year yields were at 3.347% while United States 10-Year rates were at 2.846%.
In New Zealand, the NZX 50 added 1.4% to 11,308.