Australian shares snap winning streak as slide resumes

Only health care stocks were on track to finish higher, gaining 0.6 per cent as the 10 other sectors bled lower. 

Utilities led the losses, down 1.5 per cent, followed by real estate, which slipped 1.2 per cent, and IT stocks, which lost 0.9 per cent. 

Investors will look to the US Federal Open Market Committee meeting overnight - where an interest rate hold is all but certain - with a laser focus on how hawkish the central bank is on the US economic outlook.

The Australian dollar lost ground against the greenback, buying 63.56 US cents, down from 63.73 US cents on Tuesday at 5pm.