Telstra was also down more than the index after falling 3.1 per cent to $3.73, having hit three month highs earlier in the week. CSL dropped 2.9 per cent to $277.90 after reaching a record high of $287.31 on Monday
All sectors closed in the red with healthcare, communications, information technology, real estate and utilities under-performing the market.
The biggest decliners were Avita Medical, down 9.5 per cent to 57¢, Netwealth Group dropped 5.8 per cent to $8.18, WiseTech Global dropped 5.7 per cent to $26.01, and Pinnacle Investments dropped 5.7 per cent to $4.62.
The sell-off was worst for holders of financial stocks which have already been been falling for the past two months. Commonwealth Bank dropped 2.6 per cent, NAB dropped 1.8 per cent, Westpac fell 1.3 per cent to a fresh 10-month low, and ANZ Bank dropped 1 per cent lower at $24.72. Bank of Queensland is currently at seven-year lows of $7.53.