ASX 200 Slips Further as Fed Minutes Loom

The ASX 200 lost 27 points or 0.3% to close at 8,804 on Tuesday, marking the second straight session of losses as weaker futures for S&P 500 and Nasdaq set a cautious tone ahead of the Federal Reserve’s June meeting minutes. Nerves also persisted before key June CPI and PPI readings from top trading partner China later this week. Locally, elevated borrowing costs, a cooling housing market, and geopolitical uncertainty weighed on Australia’s economy, highlighted by a slight drop in June job ads. Major laggards included non-energy minerals, consumer non-durables, logistics, and energy minerals, partly offset by gains in tech services, healthcare, and financials. Gold stocks tumbled 4.3%, as bullion retreated. Northern Star Resources, Australia’s largest listed gold miner, dipped 5.1%. Miners lost 2.9%, with iron ore mining giant Rio Tinto down 1.8%. In contrast, WiseTech Global jumped 5.7% after naming a new chair. Meanwhile, the four big banks advanced between 0.9% and 1.6%.

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