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The banking and mining sectors have been particularly hard hit, contributing significantly to the downward pressure on the S&P/ASX 200 Index. The decline in these sectors is more pronounced compared to other regional benchmarks.
In addition to domestic concerns over interest rates, external influences have also played a part in shaping Australia’s stock market trajectory this week. One such influence is the Federal Reserve’s sustained high-rate policy, which is adding to the strain on Australian equities.
The impact of these factors combined has pushed Australian shares towards their most significant weekly decline in over a year, highlighting the sensitivity of the market to shifts in monetary policy both at home and abroad.
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