AU Evening Wrap | ASX 200 falls to three-month lows, continues its selling trend

Top gainers: $Mercury NZ Ltd (MCY.AU)$, $Cettire Ltd (CTT.AU)$ and $Air New Zealand Ltd (AIZ.AU)$

Top losers: $Bellevue Gold Ltd (BGL.AU)$, $Wesfarmers Ltd (WES.AU)$ and $Seek Ltd (SEK.AU)$

$S&P/ASX 200 (.XJO.AU)$ closed down 1.24%, or 101.2 points, at 8067.7 points. The Australian stock market hit a three-month low this week and follows a global stock sell-off, which was prompted by the US Federal Reserve's revised expectations for fewer rate cuts in 2025 and concerns about reinflation risks expressed by Fed Chairman Jerome Powell.

8 of 11 sectors declined, only energy, utilities and technology sectors increased. Non-essential consumer goods and financial sector led the decline, especially major banks, such as $Wesfarmers Ltd (WES.AU)$ and $SiteMinder Ltd (SDR.AU)$.

$Mesoblast Ltd (MSB.AU)$ plummeted by 20.66% on Friday following the US regulatory approval of the company's pioneering cell therapy, which triggered a wave of profit-taking.

$Integral Diagnostics Ltd (IDX.AU)$ increase by 3.45% after finalizing a merger with Capitol Health.

$Ventia Services Group Ltd (VNT.AU)$ climbed 3.77% subsequent to the announcement of a five-year partnership with Telstra.

$De Grey Mining Ltd (DEG.AU)$ advanced by 2.79% in response to news suggesting that the gold explorer's Hemi Gold project might pave the way for underground mining operations.