By Oliver Gray
Investing.com - The S&P/ASX 200 fell 181.1 points or 2.6% to 6,828.60 during Wednesday’s session, snapping four sessions of consecutive gains and retreating from two week highs as a hotter-than-expected U.S. inflation print stoked fears of more aggressive interest rate rises from Federal Reserve officials.
Among stocks, the risk-sensitive Real estate sector led declines, falling 4.2% with Mirvac Group (ASX:MGR) down 3.7%, Charter Hall Group (ASX:CHC) falling 4.8%, Goodman Group (ASX:GMG) dipping 5% and Stockland Corporation Ltd (ASX:SGP) falling 4.7%.
Information Technology tumbled 3.2%, as Block Inc (ASX:SQ2) fell 5.1%, Appen Ltd (ASX:APX) fell 1.3%, Megaport Ltd (ASX:MP1) shed 10% and Link Administration Holdings Ltd (ASX:LNK) dropped 1.4%.
Financials dipped 2.9% as Macquarie Group Ltd (ASX:MQG) lost 3.3%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) fell 2.3%, Commonwealth Bank Of Australia (ASX:CBA) dipped 3.6%, National Australia Bank Ltd (ASX:NAB) fell 3.1% and Westpac Banking Corp (ASX:WBC) shed 1.9%.
On the bond markets, Australia 10-Year yields were 3.657%, while United States 10-Year rates were at 3.406%.
In New Zealand, the NZX 50 fell 104.1 points or 0.9% to 11,658.