The S&P/ASX 200 fell 0.2% to below 8,880 on Wednesday, extending its decline from the previous session, weighed by cautious trading as investors continued to parse corporate updates. Healthcare stocks continued to drag the index, extending losses to its lowest level since late April, led by CSL Limited. The biotech giant sank 5.6% to a six-year low as tariff threats clouded its medium-term outlook. The selloff was compounded by plans to cut 3,000 jobs and spin off its vaccine unit, even as annual profit rose 14%. Additionally, heavyweight miners came under pressure after a court blocked a key land transfer for Rio Tinto and BHP’s Resolution Copper project in Arizona. Energy stocks also fell nearly 1%, with Woodside Energy down 1.2% after announcing plans to sell a 20–30% stake in its Louisiana LNG unit. On the upside, major banks outperformed, such as Westpac, NAB, and ANZ, up between 1% to 1.5%. Investors now await upcoming PMI figures later today for signals on the economic momentum.