FX.co ★ Australian Shares Track Wall Street Lower

The S&P/ASX 200 Index decreased by 0.2% to fall below 7,850 on Wednesday, ending a three-day upward trend. This decline mirrored the downturn in US technology stocks, which affected market sentiment. On Tuesday, Reserve Bank of Australia's Assistant Governor Sarah Hunter commented on the recent rate cut in February, intended to alleviate some of the existing restrictions. Nevertheless, she emphasized that the central bank remains more cautious than the market in anticipating further easing measures. Currently, investor attention is directed towards the forthcoming Australian employment data, expected to shed light on labor market conditions. Among the notable performers within the index, Macquarie Group declined by 0.9%, Aristocrat Leisure fell by 1.2%, and Mineral Resources experienced a significant drop of 5%. In corporate developments, Capricorn Metals saw its shares decrease by 4.8% following the issuance of new shares to settle outstanding gold forward hedging commitments and to obtain put options.