Shares took a turn for the worse on Thursday with utilities and technology stocks dragging the bourse south after lunch, while the Australian dollar shot over US76¢ on positive trade data.
The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index each slid 0.1 per cent to 5645 and 5696 points respectively.
"Shares remain vulnerable over the short term, as they have become technically overbought following the big expectations of a Trump boost to the economy," said Shane Oliver, head of investment strategy at AMP Capital. 1
Overnight shares chopped lower on Thursday as investors looked ahead to Friday's jobs report, amid growing tensions between the United States and other global powers.
The Dow Jones industrial average fell 32 points, with UnitedHealth Group contributing the most losses.
The S&P 500 slipped 0.13 percent, with telecommunications falling 1.7 percent to lead decliners.
The Nasdaq composite dropped 0.24 percent.
"Now that we're past the Fed, the next big worry for the market is the jobs report. I think investors are taking a wait-and-see approach ahead of the report," said Adam Sarhan, CEO at 50 Park Investments. 2
U.S. crude futures ended lower after a choppy trading day on Thursday, as rising oil stockpiles in American storage facilities offset evidence that OPEC and other big exporters were cutting production.
Oil $53.58 - 30c
