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Australian Shares Slip on CSL's Drug Trial Failure
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Australian shares fell as biotech firm CSL Ltd's cardiovascular drug trial failed, leading to a 6.2% intraday drop. Other healthcare firms, such as Cochlear Ltd and Resmed Inc, also declined. Market participants await the U.S. CPI inflation data, which could impact the Federal Reserve's interest rate decision. Miners and energy companies experienced losses, while the financials sector saw a marginal increase.
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How might the U.S. CPI inflation data impact the Australian stock market?
What are the potential implications of CSL's drug trial failure on the biotech industry?
What factors contributed to the marginal increase in the financials sector?
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