Market Wrap / late day meltdown

The Australian share market continued on some from the previous session's losses with the S&P/ASX200 finishing 0.22% lower at 8,799.50 points. 

Mining and energy stocks did a lot of the heavy lifting, boosted by rising commodity prices. 

Rio Tinto rose 2.5%, while Mineral Resources soared 9.3% after selling a 30% stake in its lithium business to Korean giant POSCO for $1.2 billion.

CBA added to its recent losses, down 2.9%, in the wake of its profit update with concerns about its net interest margin.

Life360 also saw further selling following its trading update, finishing down 13.3% as the broader tech sector weakened.

Megaport reversed an earlier gain to be down 1.8% as it completed a $200 million fully underwritten institutional placement.

Data centre operator DigiCo Infrastructure REIT lost 2.3% despite profit beating guidance. Aristocrat Leisure slid 7.3% with its interactive games division missing forecasts.

Flight Centre shares rose 0.7% after updating shareholders at its AGM, while ARN Media tumbled 10.6% on profit warning.

 Ahead tonight, Cisco earnings earnings are released.