Australia stocks lower at close of trade; S&P/ASX 200 down 0.98%

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At the close in Sydney, the S&P/ASX 200 fell 0.98%.

The best performers of the session on the S&P/ASX 200 were Unibail Rodamco Westfield (ASX:URW), which rose 6.46% or 0.34 points to trade at 5.60 at the close. Meanwhile, Insurance Australia Group Ltd (ASX:IAG) added 4.18% or 0.190 points to end at 4.740 and Rio Tinto Ltd (ASX:RIO) was up 2.86% or 3.400 points to 122.360 in late trade.

The worst performers of the session were Idp Education Ltd (ASX:IEL), which fell 8.06% or 2.50 points to trade at 28.53 at the close. Zip Co Ltd (ASX:Z1P) declined 7.17% or 0.22 points to end at 2.85 and Pointsbet Holdings Ltd (ASX:PBH) was down 6.53% or 0.34 points to 4.87.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 983 to 449 and 374 ended unchanged.

Shares in Zip Co Ltd (ASX:Z1P) fell to 52-week lows; falling 7.17% or 0.22 to 2.85.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 22.67% to 16.817.

Gold Futures for April delivery was down 0.66% or 12.15 to $1825.25 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March fell 0.23% or 0.21 to hit $89.67 a barrel, while the April Brent oil contract fell 0.38% or 0.35 to trade at $91.06 a barrel.

AUD/USD was down 0.56% to 0.7125, while AUD/JPY fell 0.55% to 82.65.

The US Dollar Index Futures was up 0.39% at 95.918.