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Australian Shares Slip From 7-Week Highs

Published 03/11/2022, 04:41 pm
Updated 03/11/2022, 04:44 pm
© Reuters.
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By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 128.8 points or 1.8% to 6,857.9 during Thursday’s deals, snapping three sessions of consecutive advance and falling from 7-week highs as risk sentiment soured following hawkish comments from U.S. Federal Reserve policymakers overnight.

Among stocks, declines were led by Materials, falling 3% overall as Rio Tinto Ltd (ASX:RIO) dipped 2.2%, BHP Group Ltd (ASX:BHP) lost 3.2%, Fortescue Metals Group Ltd (ASX:FMG) fell 2.9% and Champion Iron Ltd (ASX:CIA) lost 5%.

Consumer Discretionary retreated 2.6% collectively, with Domino's Pizza Enterprises Ltd (ASX:DMP) shedding 11.7%, JB Hi-Fi Ltd (ASX:JBH) down 3.2%, Tabcorp Holdings Ltd (ASX:TAH) falling 1% and Wesfarmers Ltd (ASX:WES) down 3.8%.

Utilities fell 2.3%, with Origin Energy Ltd (ASX:ORG) down 1.7%, AGL Energy Ltd (ASX:AGL) dipping 2.1% and Mercury NZ Ltd (ASX:MCY) down 3.4%.

On the bond markets, Australia 10-Year rates were at 3.926% while United States 10-Year rates were at 4.096%.

In New Zealand, the NZX 50 fell 0.9% to 11,184.3.

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