Miners and banks weigh
Australia's sharemarket has ended the session lower, tracking US futures after a midterm election landslide for the Democrats, adding uncertainty to an already shaky artificial intelligence trade.
The S&P/ASX 200 fell 52.3 points on Wednesday, down 0.59%, to 8834.5, as the broader All Ordinaries lost 54 points, or 0.6%, to 8954.9.
BHP and Rio Tinto weighed heavily with drops of more than 2%, as copper prices hit their lowest levels since July, while financials and real estate also dragged as they handed back Tuesday's gains.
Defensive sectors gain
The energy sector performed well as oil prices steadied from an overnight dip, while the defensive consumer staples and utilities segments gained more than 1% each as investors ducked for cover.
The Australian dollar is buying 69.71 US cents, down from 69.79 US cents on Tuesday at 5pm.
