Thanks afternoon crew.
End-of-day summary:
The share market closed at its lowest in 10 weeks as a surge in bond yields weighed on the most rate-sensitive pockets of the market.
The ASX 200 fell 38 points or 0.54% to 7038. Tech and property stocks were among the biggest drags as the yield on 10-year Australian government bonds climbed to a decade high. The bond sell-off here followed an overnight rally in the US 10-year yield to its highest since 2007.
Bond yields have popped since the US Federal Reserve signalled another rate hike may be in the works and any relief next year will be more modest than the market anticipated. US futures sagged this afternoon after a Fed official said he expected one more increase this year. S&P 500 futures dropped 0.4%.
While the ASX 200 once again finished off today's intraday low, it failed to mount the kind of sustained recovery that saw it wipe out early weakness over the previous two sessions. Financials and healthcare were the only sectors to finish ahead, thanks mainly to modest gains in CSL, ANZ and CBA.
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Day traders' after-market lounge September 26
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