Australian shares fell on Wednesday, tracking losses on Wall Street.
The S&P/ASX 200 Index fell 0.97%, or 88.30 points, to close at 8,978.40.
Brent crude oil futures climbed over $95 per barrel after the US conducted fresh airstrikes in Iran. Gold fell to around $4,330 per ounce.
Overnight on Wall Street, the Nasdaq Composite fell 1%, the Dow Jones declined 0.8%, and the S&P 500 fell 0.7%.
On the domestic front, Australia's gross domestic product (GDP) grew 0.4% in the June quarter on a seasonally adjusted, chain volume basis, after a 0.3% growth in the March quarter, according to data released by the Australian Bureau of Statistics. The GDP rose 2.1% compared with a year earlier.
The Australian Industry Index rose 22.7 points in August to negative 3.5 in seasonally adjusted terms after a period of highly volatile conditions since the energy crisis began, according to a report released by the Australian Industry Group.
In company news, Telstra Group (ASX:TLS) released the findings of an external expert investigation into its July mobile network outage, confirming the company's previous conclusion that the incident was triggered by a technical issue.
Wesfarmers' (ASX:WES) incoming chair Ken MacKenzie acquired 4,000 shares in the firm for a consideration of AU$79.45 per share on Aug. 28.
Lastly, Corporate Travel Management (ASX:CTD) logged AU$0.127 in earnings per share for fiscal 2026, compared with a loss of AU$2.453 a year ago. For the 12 months ended June 30, revenue was AU$665.9 million versus AU$635.8 million previously.