The S&P/ASX 200 fell 56 points, or 0.6%, to close at 8,711 on Tuesday, extending its losing streak to a sixth straight session and hitting its lowest level in nearly three weeks. Sentiment remained cautious ahead of Australia’s March CPI report due on Wednesday, with markets forecasting inflation of around 4.7%. If realized, that would mark the highest reading since the monthly series began in April 2025, underscoring persistent cost pressures that have been building since mid-2025.
Investors also stayed on the sidelines ahead of next week’s Reserve Bank policy review. On the global front, U.S. stock futures were mixed as the Federal Reserve opened its two-day policy meeting, while uncertainty surrounding the conflict in the Middle East added another layer of risk aversion, with traders weighing its potential implications for the interest rate outlook.
Losses on the local bourse were broad-based, led by non-energy minerals, consumer services, and retail stocks. Aristocrat Leisure slid 4.2%, while Origin Energy dropped 4.1%. Evolution Mining fell 3.1% and Genesis Minerals lost 2.5%. Two of the four major banks also finished in negative territory.
