At 11:40am, the S&P/ASX 200 is 1.14 per cent lower at 7,577.10.
The SPI futures are pointing to a fall of 93 points.
Best and worst performers
All sectors are in the red. The sector with the fewest losses is Consumer Staples, down 0.35 per cent. The worst-performing sector is Information Technology, down 2.14 per cent.
The best-performing large cap is Amcor plc (ASX:AMC), trading 3.69 per cent higher at $14.33. It is followed by shares in Coles Group (ASX:COL) and Pilbara Minerals (ASX:PLS).
The worst-performing large cap is Northern Star Resources (ASX:NST), trading 4.38 per cent lower at $14.285. It is followed by shares in Endeavour Group (ASX:EDV) and Mercury NZ (ASX:MCY).
Commodities and the dollar
Gold is trading at US$2298.20 an ounce.
Iron ore is 0.3 per cent lower at US$116.75 a tonne.
Iron ore futures are flat.
One Australian dollar is buying 64.71 US cents.