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The Australian market is extending its early losses in mid-market moves on Thursday, but reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P\/ASX 200 is falling well below the 8,700 level, with weakness across most sectors led by mining and technology<\/span> stocks. Energy stocks were the only bright spot.<\/p>\n The benchmark S&P\/ASX 200 Index is losing 113.30 points or 1.29 percent to 8,672.40, after hitting a low of 8,652.20 earlier. The broader All Ordinaries Index is down 112.30 points or 1.25 percent to 8,904.90. Australian stocks ended notably higher on Wednesday.<\/p>\n Among major miners, Rio Tinto is declining more than 4 percent and Mineral Resources is down more than 1 percent, while BHP Group and Fortescue are losing more than 3 percent each.<\/p>\n Oil stocks are mostly higher. Beach energy and Santos are gaining almost 1 percent each, while Origin Energy and Woodside Energy are edging up 0.1 to 0.4 percent each.<\/p>\n In the tech space, Afterpay owner Block is tumbling more than 6 percent, Appen is slipping more than 4 percent, WiseTech Global is losing more than 2 percent, Xero are down almost 3 percent and Zip is sliding 3.5 percent.<\/p>\n Among the big four banks, Westpac is declining almost 2 percent each, while ANZ Banking, National Australia Bank and Commonwealth Bank are losing more than 1 percent each.<\/p>\n Among gold miners, Evolution Mining is losing more than 3 percent, Northern Star Resources is declining more than 5 percent and Newmont is down almost 1 percent, while Genesis Minerals and Resolute Mining are slipping almost 3 percent each.<\/p>\n In other news, shares in Treasury Wine Estates are surging almost 10 percent after an Investor Day update revealed a strategic transformation aiming to become a more focused, simpler, and financially stronger wine business<\/span> through a program called Ascent through cutting costs, simplifying operations, reshaping its supply chain and strengthening its balance sheet.<\/p>\n In the currency market, the Aussie dollar is trading at $0.713 on Thursday. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n