AU Evening Wrap: Australia Shares Fall 1.2%, Retreat From Record Close

$S&P/ASX 200 (.XJO.AU)$ closed 1.2% lower at 7588.2, pulling back from the previous session's record close following comments by Fed Chair Jerome Powell that a March interest-rate cut looks unlikely.

All 11 sectors of the ASX 200 finished lower, led by the heavyweight financial sector. Banks $ANZ Group Holdings Ltd (ANZ.AU)$, $Westpac Banking Corp (WBC.AU)$, $National Australia Bank Ltd (NAB.AU)$ and $CommBank (CBA.AU)$ lost between 1.0% and 2.9%.

Real-estate stocks were also hit, with $Scentre Group (SCG.AU)$, $Stockland Corp Ltd (SGP.AU)$, $Mirvac Group (MGR.AU)$, $Vicinity Centres (VCX.AU)$ and $GPT Group (GPT.AU)$ shedding between 1.6% and 2.8%.

Fuel refiners and retailers $Ampol Ltd (ALD.AU)$ and $Viva Energy Group Ltd (VEA.AU)$ added 0.6% and 0.3%, respectively, outperforming large oil producers and coal miners.