The S&P/ASX 200 finished 0.2% lower at 8,800 on Wednesday, extending losses from the previous session, dragged down by declines in tech stocks amid worries over stretched AI valuations, while top lender Commonwealth Bank extended losses. Technology shares slid 3.3%, mirroring the overnight drop in Nvidia and other AI names after SoftBank trimmed its stake in the chipmaker. Data-centre operators NEXTDC and DigiCo Infra REIT both lost around 2.5%, while major property firm Goodman Group slipped 1.3%. In the financial sector, heavyweight Commonwealth Bank remained the biggest drag, extending its two-day slide to nearly 10% after warning of margin pressure, though investors rotated into other lenders, boosting ANZ 1.8% to a record high and lifting NAB and Westpac close to their peaks. Meanwhile, miners and gold stocks each added about 0.9%, supported by firm iron ore and bullion prices.
