The local benchmark fell to a two-month low on Tuesday as equities continue their correction after a round of central bank meetings last week signalled interest rates would need to stay higher for longer.
US 10-year treasuries now sit at their highest level since October 2007, climbing to 4.56 per cent on Monday .Nine of 11 sectors across the benchmark finished in the red, led by losses in tech and materials. Health stocks were the best performing, up 1.1 per cent.
In company news, Qantas stocks dropped to their lowest levels since October after the Australian and International Pilots Association called for board chair Richard Goyder’s head. Pro Medicus surged 12.4 per cent after the imaging company won a $140m contract with US healthcare giant Baylor Scott & White Health.
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