AU Evening Wrap | ASX 200 hits a two-week low, driven by continued weakness in the technology sector

Top gainers: $Eagers Automotive Ltd (APE.AU)$, $Coronado Global Resources Inc (CRN.AU)$ and $Neuren Pharmaceuticals Ltd (NEU.AU)$

Top losers: $Contact Energy Ltd (CEN.AU)$, $IPH Ltd (IPH.AU)$ and $South32 Ltd (S32.AU)$

On Wednesday, the Australian sharemarket reached a two-week low, continuing a trend of profit-booking that began in the prior session as traders important US inflation data. The $S&P/ASX 200 (.XJO.AU)$ dropped 39.4 points, or 0.5%, closing at 8353.6 points.

Tech stocks experienced a consecutive day of declines, falling 1.4% after a 4% drop on Tuesday. A-REIT performed best, with rallying 0.9%. The giant, $Goodman Group (GMG.AU)$, in real estate sector, gained 1.7% on Wednesday.

$Eagers Automotive Ltd (APE.AU)$ saw a 5.3% increase after Barrenjoey upgraded its rating to overweight.

$Domino's Pizza Enterprises Ltd (DMP.AU)$ fell 2.3% to A$30.52 following a downgrade to neutral by Citi.

$South32 Ltd (S32.AU)$'s shares dropped 4.4% after the company disclosed that increasing civil unrest in Mozambique is disrupting transport to its operations, which may impact production.

$Cettire Ltd (CTT.AU)$ fell 4.1% to A$1.18. A block of its shares worth approximately A$16 million was sold at A$1.10 each, with major shareholder Cat Rock being implicated.

$Paradigm Biopharmaceuticals Ltd (PAR.AU)$ declined 13.6% after trading resumed following a capital raise on Tuesday.

$Vulcan Energy Resources Ltd (VUL.AU)$ shares remain suspended as the company seeks an additional A$164 million in funding. They are expected to resume trading before Friday.