Australian shares opened Tuesday trade down 0.5 per cent to 7,289.2 after US stocks were hit by Fed-interest rate rise jitters.
The S&P 500 fell 1.8 per cent as of 4 pm New York time afterservices data was stronger than expected, fuelling speculation the Federal Reserve will keep its policy tight to tame stubborn inflation.
Locally, interest-rate-sensitive tech stocks bore the brunt of the declines, down 2.3 per cent. Energy stocks fell 1.3 per cent as West Texas Intermediate futures shed 3.8 per cent to settle below $US77 a barrel after earlier topping $US82 on Monday.
Communication services and industrials were up around 0.3 per cent.
Gold miners St Barbara and Ramelius Resources led the decliners, both down around 6.4 per cent. Spot gold fell 1.7 per cent to $US1,766.73 an ounce as of 2:25 pm in New York as Treasury yields and the dollar rose.
