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The Australian stock market is trimming its early losses in mid-market moves on Friday, reversing some of the sharp gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P\/ASX 200 is falling below the 9,000 mark, with weakness in mining and technology<\/span> stocks partially offset by gains in financial stocks.<\/p>\n The benchmark S&P\/ASX 200 Index is losing 83.50 points or 0.92 percent to 8,981.60, after hitting a low of 8,923.30 earlier. The broader All Ordinaries Index is down 96.10 points or 1.04 percent to 9,109.10. Australian stocks closed sharply higher on Thursday.<\/p>\n Among major miners, Mineral Resources is sliding almost 5 percent, BHP Group is declining almost 4 percent, Fortescue is down more than 2 percent and Rio Tinto is losing more than 3 percent.<\/p>\n Oil stocks are mostly lower. Woodside Energy is edging up 0.2 percent, while Santos is declining almost 2 percent and Beach energy is losing more than 1 percent. Origin Energy is flat.<\/p>\n Among tech stocks, Afterpay and Square-owner Block is losing more than 2 percent, Zip is sliding almost 5 percent, Appen is tumbling almost 6 percent, Xero slipping almost 2 percent and WiseTech Global is down almost 1 percent.<\/p>\n Among the big four banks, National Australia Bank is advancing more than 3 percent and ANZ Banking is gaining more than 1 percent, while Commonwealth Bank and Westpac are adding almost 2 percent each.<\/p>\n Gold miners are weak. Northern Star Resources is losing more than 2 percent, Genesis Minerals is sliding more than 4 percent and Newmont is down almost 1 percent, while Evolution Mining and Resolute Mining are declining more than 3 percent each.<\/p>\n In the currency market, the Aussie dollar is trading at $0.692 on Friday. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n