ASX down 0.94% near midday: all sectors in red

Australian shares fell to a three-week low, reflecting weakness in New York, as investors waited for local inflation data to provide clues on interest rates. Mining giants including BHP, Fortescue and Rio Tinto weakened after an overnight decline in iron ore futures in Singapore.

At 11:35 a.m., the S&P/ASX 200 Index is 0.94 per cent lower at 7,693.80.

SPI futures indicate a decline of 57 points.

The best and worst performers

All sectors are in red. The sector that recorded the smallest losses was Energy, which fell by 0.18%. The worst performing sector was the consumer staples sector, down 1.7%.

The best-performing large-cap stock is Fisher & Paykel Healthcare Corporation (ASX:FPH), rising 6.72% at $27.16. Next comes Alumina stock (ASX:AWC) and Mercury in New Zealand (ASX:MCY).

The worst-performing large-cap stock is Treasury Wine Estates (ASX:TWE), down 3.14% at $11,255. In second place are shares in Aristocrat Leisure (ASX:ALL) and Qantas Airways (ASX:QAN).

Goods and the dollar

Gold is trading at $2,381.60 per ounce.

Iron ore is 1.0 percent lower at $117.85 per tonne.

Iron ore futures are pointing to a decline of 1.8%.

One Australian dollar buys 66.57 US cents.