FX.co ★ Australian Shares Fall on Market Caution

The S&P/ASX 200 Index experienced a 0.2% decline to approximately 8,160 on Thursday, reversing the gains observed in the prior session as market caution prevailed. This downturn came in the wake of the US Federal Reserve's decision to maintain its current interest rates. Fed Chair Jerome Powell emphasized a cautious stance, explicitly ruling out any immediate rate cuts despite the prospective economic impacts of tariffs. Investor anxiety was further fueled by US President Donald Trump’s assertion that he would not reduce tariffs on China unless certain preconditions for trade discussions were met. High-level US and Chinese officials are scheduled to convene in Switzerland over the weekend to deliberate on trade relations, heightening geopolitical tensions. Significant decliners on the ASX included ANZ Group with a 2.2% drop, Westpac Banking with a loss of 3.6%, CSL Ltd falling by 1%, Woodside Energy declining by 1%, and Pilbara Minerals plummeting by 7.3%.