At 11:40am, the S&P/ASX 200 is 0.61 per cent lower at 8,022.20, mirroring a weak performance on Wall Street and a sharp decline in Nvidia's stock. The local market was also influenced by a wave of corporate earnings reports, including from Qantas and Wesfarmers. Key sectors such as consumer and technology experienced declines, while financials and mining showed mixed results. Notably, Mineral Resources and Cettire faced significant drops due to disappointing financial performance and industry challenges.
The SPI futures are pointing to a fall of 39 points.
Best and worst performers
The best-performing sector is Financials, up 0.19 per cent. The worst-performing sector is Consumer Discretionary, down 2.13 per cent.
The best-performing large cap is Meridian Energy (ASX:MEZ), trading 1.96 per cent higher at $5.71. It is followed by shares in Spark New Zealand (ASX:SPK) and Ramsay Health Care (ASX:RHC).
The worst-performing large cap is Mineral Resources (ASX:MIN), trading 9.54 per cent lower at $39.97. It is followed by shares in Wesfarmers (ASX:WES) and NEXTDC (ASX:NXT).
Commodities and the dollar
Gold is trading at US$2545.30 an ounce.
Iron ore is 0.6 per cent lower at US$100.45 a tonne.
Iron ore futures are pointing to a 0.3 per cent fall.
One Australian dollar is buying 67.95 US cents.
