At noon, the S&P/ASX 200 is 0.78 per cent lower at 8,293.90.
The SPI futures are pointing to a fall of 59 points.
Best and worst performers
All sectors are in the red. The sector with the fewest losses is Financials, down 0.18 per cent. The worst-performing sector is Utilities, down 2.39 per cent.
The best-performing large cap is Yancoal Australia (ASX:YAL), trading 2.33 per cent higher at $6.16. It is followed by shares in Meridian Energy (ASX:MEZ) and Mercury NZ (ASX:MCY).
The worst-performing large cap is WiseTech Global (ASX:WTC), trading 3.92 per cent lower at $122.02. It is followed by shares in Fortescue (ASX:FMG) and BlueScope Steel (ASX:BSL).
Commodities and the dollar
Gold is trading at US$1782.70 an ounce.
Iron ore is 4.5 per cent lower at US$99.75 a tonne.
Iron ore futures are pointing to a 2.3 per cent fall.
One Australian dollar is buying 66.99 US cents.