Thanks afternoon crew.
End-of-day summary:
The share market fell as mining stocks responded to declines in commodity prices and after Federal Reserve Chair Jerome Powell reiterated the US central bank's determination to be "careful" cutting interest rates.
The ASX 200 fell 73.5 points or 0.95%. Gold and iron ore miners were the biggest drags. Iron ore fell to a two-week low in China on Friday. Gold declined this afternoon after unexpectedly strong US jobs data boosted the greenback and the yield from treasuries.
US stock futures fell after Fed Chair Powell said the bank was "actively considering: rate cuts, but could afford to be careful because of the strength of the economy.
“The prudent thing to do is to just give it some time and see that the data continue to confirm that inflation is moving down to 2% in a sustainable way,” Powell told 60 Minutes today (Sunday night US time).
S&P 500 futures retreated 0.27% by the Australian market close as treasury yields rallied.
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