The drop came as investors braced for US inflation data that could influence the Federal Reserve to ease monetary policy. With the outcome of the Fed’s two-day policy meeting expected later today
At closing bell, the benchmark S&P/ASX200 index dropped 39.86 points, or 0.51%, to 7,715.51. The broader All Ordinaries index was down 42.81 points, or 0.53%, to 7,963.08.
Total 10 of 11 sectors were lower along with the S&P/ASX 200 Index. Utilities sector was bottom performer, down 1.08%, followed by information technology (down 0.97%), industrials (down 0.87%), consumer discretionary (down 0.87%), and healthcare (down 0.845%) sectors. Energy was the best performing sector, gaining 1.01%.
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