FX.co ★ Australian Shares Fall for 3rd Session

The S&P/ASX 200 index declined by 0.4%, settling around 8,920 during early Wednesday trading, marking its third straight session of losses, primarily due to setbacks in technology and gold stocks. The index was further pressured by negative signals from Wall Street as investors considered the implications of the ongoing US government shutdown and harbored fresh uncertainties about the sustainability of the AI-driven market surge. Concurrently, market participants evaluated the World Bank's upward revision of its growth forecast for certain regions in East Asia and the Pacific, following a summer marred by global sentiment concerns emanating from US tariff-related issues. On the corporate side, technology stocks tumbled 1.5% to reach a one-month low, echoing declines in their US counterparts. The technology sub-index recorded losses for the third consecutive session, with Life360 Inc dropping 4.4% and WiseTech Global slipping 1%. Gold mining stocks also suffered, down 2.1%, as investors appeared to realize gains. Among the major gold producers, Newmont and Northern Star decreased by 1.1% and 1.7%, respectively. The financial sector declined as well, led by a 0.5% drop from major lender NAB.