Sydney, 2025 – The S&P/ASX 200 closed 0.2% lower at 8,800 on Wednesday, extending losses from the previous session, as tech stocks fell amid concerns over stretched AI valuations.

Technology Sector:

• Tech shares fell 3.3%, reflecting overnight losses in Nvidia and other AI-related stocks following SoftBank’s stake reduction.
• Data-centre operators NEXTDC and DigiCo Infra REIT dropped around 2.5%, while property giant Goodman Group slipped 1.3%.

Financials:

• Commonwealth Bank continued its decline, extending a two-day slide to nearly 10% after issuing a margin pressure warning.
• Investors rotated into other banks, with ANZ rising 1.8% to a record high, while NAB and Westpac hovered near their peaks.

Commodities:

• Mining and gold stocks gained roughly 0.9%, supported by strong iron ore and bullion prices.

Investors remain cautious on AI and tech valuations, while the rotation into other sectors helped offset some losses across the benchmark.