Australian shares fell on Wednesday for a third straight session as Wall Street tumbled and the consumer price index exceeded forecasts, prompting rates markets to lock in a Reserve Bank interest rate increase at its meeting next Tuesday.P/ASX 200 Index declined 0.8 per cent to 7261.2 points; the All Ordinaries fell by the same margin to 7547.
Shares in Life360 collapsed 29.4 per cent to $3.77 after the tech platform abandoned plans to list in the US. Chief executive Chris Hulls also said Life360 had adjusted its guidance for cashflow breakeven to the final quarter of 2023. BHP added 0.8 per cent to $46.01, and Rio Tinto firmed 0.2 per cent to $108.96. Mineral Resources put on 1.5 per cent to $55.49 and Woodside Petroleum rose 1 per cent to $30.91.