The Australian sharemarket declined from near record highs on Tuesday amid a broad sell-off, mirroring a pullback on Wall Street as investors opted to take some profits.
At 11:35am, the S&P/ASX 200 is 1.13 per cent lower at 8,250.10.
The SPI futures are pointing to a fall of 108 points.
Best and worst performers
All sectors are in the red. The sector with the fewest losses is Communication Services, down 0.35 per cent. The worst-performing sector is Information Technology, down 1.94 per cent.
The best-performing large cap is Mercury NZ (ASX:MCY), trading 3.61 per cent higher at $6.32. It is followed by shares in Qantas Airways (ASX:QAN) and REA Group (ASX:REA).
The worst-performing large cap is Mineral Resources (ASX:MIN), trading 4.4 per cent lower at $37.81. It is followed by shares in James Hardie Industries plc (ASX:JHX) and Lynas Rare Earths (ASX:LYC).
Commodities and the dollar
Gold is trading at US$2738.00 an ounce.
Iron ore futures are pointing to a 1.5 per cent fall.
One Australian dollar is buying 66.54 US cents.
