Australian shares settled lower on Thursday, with financials and miners leading the losses, after minutes from the U.S. Federal Reserve's December monetary policy meeting prompted investors to dial back their expectations of an interest rate cut.
The S&P/ASX 200 index closed 0.4% lower at 7,494.10 points, its lowest closing level since Dec. 19.
After scaling a near record high on Tuesday, the benchmark index lost about 2% over the previous two sessions, losing steam from a rally gathered in the last two months of 2023.
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