The ASX200 fell sharply to a seven-week low and closed down 0.51% at 8,118 points.
Banks led the market lower and Macquarie (ASX:MQG) shed 3.6% after first half FY25 results missed estimates and disappointed investors.
Health Care was the worst performing sector, down 1.1%, followed by Financials, down 0.9%, and Discretionary, down 0.7%.
Energy was the best performing sector, up 1%, followed by Materials, up 0.2%.
In the Green
HighCom (ASX:HCL) closed up 3.03% on news of a new spare parts order worth $5.6 million from the Department of Defence.
Highcom closed at 17 cents.
Capricorn Metals (ASX:CMM) closed up 3.01% after raising $200 million through an institutional placement. The funds will be used at its Karlawinda mine expansion, as well as for a foray at Mount Gibson.
Capricorn Metals closed at $6.50.
Pointsbet (ASX:PBH) closed up 8.86% after Bell Potter issued a note retaining its hold rating but lifting its price target to 80 cents.
Pointsbet closed at 86 cents.
In the Red
Wesfarmers (ASX:WES) closed down 0.98% after yesterday’s AGM. Chairman Michael Chaney says profits are not a dirty word and today hit the airwaves to consolidate his message. Mr Chaney says businesses need to make profit to stay afloat, employ people and create work for suppliers.
Wesfarmers closed at $66.92
Tabcorp (ASX:TAH) closed down 3.19% after CEO Gillon McLachlan placed a ban on politicians and the media in the Birdcage marquee at Melbourne Cup and Derby Day.
Tabcorp closed at 45.5 cents.
AFT Pharmaceuticals (ASX: AFP) closed down 3.13% on news of an expected operating loss of just under $2 million for the six months to 30 September 2024.
Aft Pharmaceuticals closed at $2.79.