Thanks afternoon crew.
End-of-day summary:
The share market declined for the first time in seven sessions after the US Federal Reserve pushed back against the notion that rate cuts are just a few months away.
The ASX 200 eased 16 points or 0.22%. The most rate-sensitive corners of the market led the retreat after a Fed official said the central bank had not yet discussed rate cuts. US stocks have risen for seven straight weeks on expectations that rates have peaked and cuts could begin as soon as March.
Here, real estate investment trusts fell 1.39% and utilities gave up 0.84%. A 0.35% rally on the Nasdaq on Friday helped cap the local tech sector's loss at 0.2%.
Healthcare stocks and small caps also advanced. Link Administration, Adbri and Pacific Smiles jumped on takeover news.
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