The S&P/ASX 200 fell 0.4% to close at 8,726 on Monday, extending losses from the previous session, as banks and miners led declines. Holiday-thinned turnover slightly skewed sentiment to the downside. Australia's major banks slipped, pressured by rising funding costs, slowing credit growth, and increasing arrears, with Commonwealth Bank of Australia (-0.3%), Westpac Banking Corporation (-0.5%), and National Australia Bank (-0.5%) weighing on the broader index. Additionally, mining stocks slipped 0.4%, with heavyweight miners pulling back from recent record highs despite firmer iron ore and copper prices. BHP dipped 0.1%, Rio Tinto fell 0.5%, and Fortescue slipped 1.2%. Gold miners also pared early gains after briefly touching new peaks. Energy stocks were slightly lower, with Woodside Energy and Santos dropping 0.3% and 1.2% respectively.