Australian Stock Market Faces Broad Selloff as Overseas Losses Extend Into Trading Session

The Australian stock market continued its downward trajectory on Friday, building on losses from the previous trading session amid weakness signals originating from Wall Street overnight. The negative momentum has triggered a broad-based selloff across virtually all sectors, with particularly severe pressure visible in technology and resource-related stocks.

The benchmark S&P/ASX 200 declined 169.20 points, settling at 8,720.00 and representing a loss of 1.90 percent as the session pushed through the critical 8,750 level to reach an intraday low of 8,714.10. The All Ordinaries Index followed suit, dropping 187.20 points or 2.05 percent to conclude at 8,967.70, extending Thursday’s notable losses across the broader market.

Mining Sector Under Pressure Amid Resource Stock Selloff

The resource sector bore the brunt of Friday’s selling pressure. Among major mining operators, Rio Tinto retreated 0.4 percent, while BHP Group declined nearly 3 percent, reflecting broader hesitation among institutional investors toward commodity-exposed equities. Fortescue slipped almost 1 percent, though the steepest mining-related losses came from Mineral Resources, which plummeted more than 4 percent as traders reassessed valuations across the sector.

Energy Stocks Weighed Down by Market Headwinds

Oil and gas producers experienced significant losses throughout the session. Santos retreated more than 1 percent, Woodside Energy surrendered nearly 2 percent, and Origin Energy declined almost 1 percent. Beach Energy suffered the most acute pressure among energy stocks, sliding approximately 4 percent as market uncertainty weighed on investor sentiment in the energy sector.

Technology Stocks Lead Declines in Australian Markets

The technology sector displayed the weakest performance among major segments. Block, the parent company of Afterpay, tumbled almost 7 percent, while WiseTech Global slipped nearly 5 percent. Fintech players also struggled, with Zip declining almost 6 percent and Xero losing more than 2 percent. Artificial intelligence and data services provider Appen recorded the session’s most severe technology-related decline, sliding almost 9 percent as growth-oriented stocks faced systematic selling.

Financial Services Navigate Mixed Territory

Australia’s banking sector exhibited relative resilience despite broader market pressures. ANZ Banking and National Australia Bank declined more than 1 percent each, while Commonwealth Bank and Westpac edged down just 0.1 percent each, suggesting selective support for defensive financial positions within the portfolio rebalancing process.

Precious Metals Mining Faces Steeper Declines

Gold mining stocks encountered significant headwinds within the australian stock market news cycle. Evolution Mining and Northern Star Resources each surrendered more than 2 percent, while Newmont and Genesis Minerals suffered more acute losses exceeding 6 percent each. Resolute Mining declined almost 2 percent, indicating broad-based pressure across the precious metals segment.

Individual Stock Movements and Corporate Updates

REA Group experienced particularly sharp losses, declining more than 10 percent following the release of first-half financial results that fell short of market expectations. Web Travel Group faced even steeper losses, plummeting nearly 29 percent after announcing that Spanish tax authorities had initiated an audit of its Iberian operations through the Special Delegation of the Balearic Islands.

The Australian dollar traded at $0.694 against other major currencies as the session progressed, reflecting broader movements in foreign exchange markets amid shifting risk sentiment.