ASX 200 slides 0.5%, most sectors finish in the red

The news: The benchmark ASX 200 closed 0.5% lower despite modest gains on Wall St overnight. The All Ordinaries shed 0.6%. The Aussie dollar is trading lower against the greenback, fetching USD0.64 after US 10-year treasury yields charged past 16-year highs, bolstering the USD against major currencies.

The numbers: By sector, only financial stocks (+0.1%) and health care (+1.1%) managed to finish in the green. IT stocks dipped 1.9%, handing back Monday's gains. Materials lost 1.7%, as BHP lost 1.8% and Fortescue and Rio dropped more than 2% each as iron ore prices failed to recover from Monday's slump. Real estate stocks shed 1.4% as fears of higher for longer interest rates dragged on debt sensitive markets.

The context: The ABS will release Australian CPI data for the year to August at 11:30 tomorrow. Analysts predict an increase to 5.2%, up from July's 4.9% figure. S&P releases its