ASX extends losses as Cettire shares drop by 50%

Energy, healthcare, and consumer discretionary stocks dragged the Australian sharemarket lower in afternoon trading, amid fears that upcoming figures will show an uptick in inflation, pressuring the Reserve Bank to lift the cash rate.

By 1 PM, the S&P/ASX 200 was down 43.7 points, or 0.56 percent. Only two out of 11 sectors – industrials and information technology – were trading in the green. Energy stocks were the worst hit, falling 1.48 percent, followed by healthcare, down 1.35 percent, and consumer discretionary, down 1.33 percent.

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