Australian shares fall for a second day as global concerns weigh on sentiment

Australian shares ended lower on Friday, with the ASX 200 dropping 0.9% to 8,829, marking its second consecutive day of losses and pulling back from a two-month high. Investor sentiment remained cautious after the U.S. Federal Reserve signaled that interest rates could stay higher for longer, raising concerns about borrowing costs and economic growth.

Markets were also unsettled by uncertainty surrounding upcoming U.S.Iran peace talks, as Iran sought stronger assurances on the implementation of a recent agreement with Washington. Losses were broad-based, with non-energy mining, industrial, consumer discretionary, and commercial services stocks among the weakest performers.

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