The S&P/ASX 200 fell 0.4% to 9,018 on Tuesday, reversing gains from the previous session as investors scaled back expectations of an interest rate cut next week. Markets are now pricing in just a 15% chance of a rate reduction, down sharply from 60% after RBA Governor Michele Bullock reaffirmed the bank’s view that the labor market remains “a little tight,” despite unemployment recently rising more than the RBA had forecast. Investors now turn their attention to Wednesday’s release of Q3 inflation data and the September Monthly CPI indicator for further clues on the outlook for interest rates. The gold sector slumped 5.4% to its lowest level in over a month, as easing US-China trade tensions dampened demand for safe-haven assets. Newmont Corporation sank 5.7%, Northern Star Resources plunged 4%, and Evolution Mining dropped 3.8%. In contrast, major banks supported the index, with National Australia Bank up 2.5%, Westpac rising 1.9%, Commonwealth Bank up 1.8%, and ANZ adding 1.4%.