The Australian equity market (as measured by the S&P/ASX 200) recorded its biggest monthly decline since March 2020, falling (-8.8%) in June to extend its quarterly loss to (-11.9%), its worst loss since the March quarter 2020. Fearing aggressive monetary tightening policy and the risk of recession, every sector bar two (Energy and Utilities eking out small gains) were violently sold-off as fundamentals were tossed aside and indiscriminate selling took control. 

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