ASX slides; Gold and real estate stocks fall
The numbers
Gold stocks fell sharply and the Australian sharemarket closed lower on Wednesday, following the Reserve Bank's surprise decision on Tuesday to hold interest rates steady, a move that caught many traders and economists off guard. Investors were also spooked by US President Donald Trump's latest salvo in his unfolding tariff war.
The S&P/ASX 200 sank 52.10 points, or 0.6 per cent, to 8538.6, led by falls in the real estate sector, which was down 1.7 per cent. Only four of 11 sectors finished in the green.
The lifters
Energy shares lifted on Wednesday, led by Woodside (up 0.7 per cent) and Ampol (2.9 per cent higher). Santos closed flat. Of the big four banks, only Westpac closed higher at 0.7 per cent.
The utilities sector also lifted as Origin Energy gained 1.7 per cent and Meridian by 0.7 per cent. The sector performed the best out of the 11 on the index, gaining 1.1 per cent across the session.
The laggards
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