By Oliver Gray
Investing.com - The S&P/ASX 200 fell 9.6 points or 0.1% to 6,668.4 during the first hour of Monday’s trade, easing slightly from last week’s gains of 2.1% as rising yields and a strengthening U.S. Dollar weighed on risk sentiment.
ASX 200 Futures were trading 0.5% lower.
Among stocks, Materials fell 1.1% as Rio Tinto Ltd (ASX:RIO) dipped 0.4%, BHP Billiton Ltd (ASX:BHP) lost 1.2%, Fortescue Metals Group Ltd (ASX:FMG) fell 0.7%, and Champion Iron Ltd (ASX:CIA) dipped 1.2%.
Information Technology retreated 0.9% collectively, with Block Inc (ASX:SQ2) down 1%, Appen Ltd (ASX:APX) dipping 1.3%, Novonix Ltd (ASX:NVX) down 5.3%, Brainchip Holdings Ltd (ASX:BRN) dipping 1.7% and Altium Ltd (ASX:ALU) falling 1.5%.
Energy moved 1.4% higher, with Woodside Energy Ltd (ASX:WDS) up 1.9%, Santos Ltd (ASX:STO) adding 1.1%, Beach Energy Ltd (ASX:BPT) up 0.4% and Viva Energy Group Ltd (ASX:VEA) adding 0.7%.
Meanwhile, EML Payments Ltd (ASX:EML) tanked 16.4% following surprise resignation of CEO Tom Cregan, set to be replaced by current EML Board member Emma Shand.
On the bond markets, Australia 10-Year rates were at 3.558%, while United States 10-Year yields lifted to 3.092%.