AU Evening Wrap: Stocks fall as US futures weaken ahead of risk events

The $S&P/ASX 200 (.XJO.AU)$ slumped 95 points or 1.4 per cent to a second-straight decline. The index briefly shed as much as 116 points following its best week in two years.

$Fortescue Ltd (FMG.AU)$ firmed 1.85 per cent. $Rio Tinto Ltd (RIO.AU)$ gained 0.85 per cent. $BHP Group Ltd (BHP.AU)$ inched up 0.02 per cent.

$Tabcorp Holdings Ltd (TAH.AU)$ swung to a gain of 1.57 per cent after taking a stake in a digital wagering platform favoured by a younger demographic than the group's usual client base. The firm will pay $33 million for a 20 per cent stake in Dabble Sports. Tabcorp said Dabble was "one of the fastest growing wagering brands in Australia".

$Link Administration Holdings Ltd (LNK.AU)$ firmed 0.31 per cent after announcing it will re-engage with Dye & Durham on a non-exclusive basis after the Canadian group pitched a non-binding offer valuing the Australian firm's Corporate Markets and BCM businesses at $1.27 billion.

Borrowing-dependent growth stocks led the retreat as the yield on ten-year Australian government bonds pushed back towards 4 per cent. The ten-year yield climbed four basis points to 3.9 per cent.

Afterpay's parent company $Block Inc (SQ2.AU)$ fell 6.18 per cent, $Imugene Ltd (IMU.AU)$ 7.69 per cent, $Megaport Ltd (MP1.AU)$ 6.63 per cent and $Nanosonics Ltd (NAN.AU)$ 5.91 per cent.