ASX 200 loses 0.74%, Aussie battles to hold 64 US cents

The news: The ASX 200 fell 0.74% to close at 7,153.90 after an overnight rout in US tech stocks. The All Ordinaries lost 0.77%. The Aussie dollar gave up more than half its gains for the week and is hovering just above 64 US cents.

The numbers: NextDC and Xero were some of the big losers in IT stocks, shedding 2.0% and 2.2% respectively, as the sector overall lost 1.56% for the day. Wisetech was also down 1.4%. Materials lost 1.1% with BHP, Fortescue and Rio Tinto all finishing in the red as iron ore prices eased after hitting five-month highs on Tuesday. Real estate was down 1.2%, with Goodman Group, Scentre and Stockland all losing more the 1%, while Mirvac and Vicinity Centres lost more than 2%.

The context: The ABS will release Australian unemployment data tomorrow morning. US CPI data will be released tonight at 10:30pm AEST, with expectations that headline annual inflation will lift from 3.2% to 3.6%, and core inflation expected to ease from 4.7% to 4.3%, ahead of the Federal Reserve's rate setting meeting next week. The European Central Bank will release its monetary policy statement on Thursday night.