Thanks afternoon crew. Have a good weekend, all.
End-of-day summary:
A challenging end to a tough week handed the share market its worst weekly loss in around six months after US inflation data appeared to push interest rate cuts later into the year.
The ASX 200 dropped 43 points or 0.56% to 7670, its lowest close in two and a half weeks. Declines in the major miners and some of the banks accounted for much of the down-pressure. Energy producers, Telstra and property stocks resisted the negative trend.
The index was on track for its biggest weekly loss in a year and a half before a partial afternoon recovery cut the fall by three-quarters. By the close, the index had trimmed its deficit for the week to 177 points or 2.25%. That was still its worst performance since a 210-point tumble last September.
Inflation jitters re-emerged on Wall Street overnight as February producer price data stoked concerns that inflation has stalled well above the Federal Reserve's target range. The S&P 500 retreated 0.29%.
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