ASX down 0.5pct ahead of US inflation read

ASX
The tech sector dropped 3.8 per cent, its worst session in almost two months. -AAP Image

The Australian share market has faded into the close ahead of another US inflation readout that'll be key to determining how quickly interest rates rise in the world's largest economy. 

After being flat around lunchtime, the benchmark S&P/ASX200 index finished Wednesday down 37.1 points, or 0.53 per cent, to 6992.7. 

The broader All Ordinaries closed down 39.9 points, or 0.55 per cent, to 7238.7.

Meanwhile, the Australian dollar was buying 69.52 US cents, from 69.71 US cents on Tuesday.