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The Australian stock market is extending its early losses in mid-market moves on Wednesday, but reversing some of the sharp gains in the previous session, with the benchmark S&P\/ASX 200 falling well below the 8,550 level, following the broadly negative cues from Wall Street overnight, with weakness in mining, technology<\/span> and financial stocks partially offset by gains in energy stocks.<\/p>\n The benchmark S&P\/ASX 200 Index is losing 95.30 points or 1.11 percent to 8,509.40, after hitting a low of 8,501.40 earlier. The broader All Ordinaries Index is down 97.90 points or 1.11 percent to 8,731.60. Australian stocks ended sharply higher on Tuesday.<\/p>\n Among major miners, BHP Group and Rio Tinto are declining more than 2 percent each, while Fortescue is losing almost 2 percent. Mineral Resources is edging up 0.4 percent.<\/p>\n Oil stocks are mostly higher. Woodside Energy and Santos are gaining almost 1 percent each, while Beach energy is adding more than 1 percent. Origin Energy is losing almost 2 percent.<\/p>\n In the tech space, Afterpay owner Block is losing more than 1 percent, Zip is declining more than 2 percent and WiseTech Global is down almost 1 percent, while Appen and Xero are edging up 0.2 to 0.4 percent each.<\/p>\n Among the big four banks, National Australia bank and Commonwealth Bank are losing almost 1 percent each, while Westpac and ANZ Banking are declining more than 1 percent each.<\/p>\n Among gold miners, Evolution Mining, Genesis Minerals, Resolute Mining and Newmont are tumbling almost 5 percent each, while Northern Star Resources is declining almost 3 percent.<\/p>\n In other news, shares in Electro Optic Systems are plunging almost 10 percent after it raised $150 million at $8 per share through an institutional raising. It also revealed a further $40 million strategic placement from defence-focused investors.<\/p>\n Shares in Catapult Sports are soaring more than 10 percent after the sports technology company reported upbeat results for the full-year 2026.<\/p>\n In the currency market, the Aussie dollar is trading at $0.710 on Wednesday. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n