End-of-day summary:
The share market closed at its lowest in more than two months following heavy selling on Wall Street and an uptick in headline inflation.
The ASX 200 declined eight points or 0.11% to 7030. Gold miners, tech stocks and healthcare providers were the biggest drags. Property stocks attracted a bid, rising almost 0.4% in afternoon trade after earlier falling to their weakest level of the year.
The market trimmed its losses after mid-morning data showed underlying inflation declined last month, even as headline inflation rebounded.
The early pressure followed a losing night in the US, where the Dow shed 1.14%, its heaviest loss since March. Dow futures bounced 0.25% this afternoon amid reports of progress towards resolving an impasse in Washington DC that threatens to shut down parts of the federal government from Sunday.
