By Oliver Gray
Investing.com - The S&P/ASX 200 fell 0.5% to 6,462 during Wednesday’s session, reversing gains of 0.4% in the previous session and closing at fresh 3-month lows as investors continued to retreat amid slowing global growth concerns.
Among stocks, losses were led by Information Technology, down 1.5% as Block Inc (ASX:SQ2) fell 0.6%, Novonix Ltd (ASX:NVX) shed 4.3%, Brainchip Holdings Ltd (ASX:BRN) dipped 5.1% and Xero Ltd (ASX:XRO) lost 3.2%.
Consumer Discretionary fell 1.1% with Domino's Pizza Enterprises Ltd (ASX:DMP) down 0.6%, JB Hi-Fi Ltd (ASX:JBH) losing 1% and Aristocrat Leisure Ltd (ASX:ALL) falling 0.4%.
Financials finished 0.8% lower with Macquarie Group Ltd (ASX:MQG) down 2.5%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) losing 0.4%, Westpac Banking Corp (ASX:WBC) down 0.6% and National Australia Bank Ltd (ASX:NAB) losing 0.9%.
Meantime, Utilities bucked the trend, finishing 1.9% higher as Mercury NZ Ltd (ASX:MCY) added 3.4%, Origin Energy Ltd (ASX:ORG) gained 2.3% and AGL Energy Ltd (ASX:AGL) lifted 3%.
On the data front, Australian Retail sales data came in above expected for August, increasing 0.6% month-over-month compared to estimates of a 0.4% increase.
On the bond markets, Australia 10-Year bond yields pushed higher to 4.114% while United States 10-Year yields were at 4.007%.
In New Zealand, the NZX 50 shed 0.9% to 11,119.6.