End-of-day summary:
Aussie shares gave up early gains as positive trade news out of the US failed to dissuade investors from locking in profits near record levels.
The ASX 200 swung from an opening advance of 23 points to a final loss of 28 points or 0.32%.
A well-received trading update from Fortescue and a second day of gains in some of the banks proved insufficient against a negative reaction to a dip in profit at Macquarie Group and weakness across much of the wider market.
US stocks closed at fresh heights overnight after Japan and the US struck a trade deal. Media reports suggested a deal with the European Union along similar lines could soon follow. The S&P 500 gained 0.78%.
