The S&P/ASX 200 fell 0.3% to end at 8,807 on Friday, extending losses from the prior session, with major banks, healthcare, and tech stocks leading the decline. Still, the index posted a 1.7% weekly increase, its first rise in three weeks, partly due to a high likelihood of an RBA rate cut on August 12. Investors also braced for peak earnings season with key results due next week from major firms including CBA, Westpac, and ANZ, which all dropped nearly 1%, leading declines in financials. Additionally, healthcare stocks were down 1.8% due to Trump’s steep pharmaceutical tariff threat, affecting major Australian exporters like CSL (-1.8%) and Telix (-3.1%). Tech shares also fell 1.1%, tracking Wall Street losses, but rose 1% over the week as Nasdaq hit a record high. On the flip side, heavyweight miners rose on higher copper prices amid a weaker dollar and improved China demand outlook, while gold stocks jumped 2.1% as bullion gained on safe-haven demand following Trump’s tariffs.