AU Evening Wrap: ASX 200 closed 0.9% lower as rally lost steam

• Australia's $S&P/ASX 200 (.XJO.AU)$ closed 0.9% lower at 7063.6, falling to a weekly loss, as the rally seen in the prior two sessions ran out of steam.

• The tech, consumer and health sectors led losses following a negative lead by U.S. stocks, while the heavyweight financial sector pulled back by 0.6% after gaining since Wednesday.

• $Block Inc (SQ2.AU)$, $WiseTech Global Ltd (WTC.AU)$ and $Xero Ltd (XRO.AU)$ fell by between 3.2% and 5.9%, while buy-now-pay-later player $Zip (Z1P.AU)$ dropped 7.6% to a two-year low.

• Wealth managers and insurers led the financial sector's losses. $CommBank (CBA.AU)$ and $National Australia Bank Ltd (NAB.AU)$ gave up 0.4% and 0.2%, respectively.

• The ASX 200 fell by 0.7% across the week.

S&P/ASX 200 Movers for Friday (3/11)