At 11:00 (AEST), the benchmark S&P/ASX 200 index was down 17.40 points or 0.26 percent at 6,619.00, while the broader All Ordinaries index was down 16.80 points or 0.25 percent at 6,832.00.
"European shares edged lower in overnight trading as the global re-opening rally stalled. U.S. markets were closed for the Thanksgiving holiday." CMC Markets chief market strategist Michael McCarthy said.
"The corrective moves followed further details from AstraZeneca about its vaccine trials."
AstraZeneca researchers are yet to find why its COVID-19 vaccine appeared more effective at lower doses, which were given in error, and are likely to conduct an additional trial to assess the efficacy of the vaccine.
On the local market, heavy-weight financials and materials were leading market losses.
In the financial space, the big banks fell with Commonwealth Bank down (0.01 percent), National Australia Bank down (0.30 percent), Westpac Bank down (0.63 percent) and ANZ down (0.86 percent).
Mining stocks were mixed with BHP down (1.19 percent), Rio Tinto down (0.84 percent), Fortescue Metals up (0.11 percent) and gold miner Newcrest was up (0.37 percent).
The country's oil and gas producers slumped with Oil Search down (2.90 percent), Santos down (1.10 percent) and Woodside Petroleum down (1.13 percent).
Australia's largest supermarkets lifted with Coles up (0.03 percent), and Woolworths up (0.27 percent).
Meanwhile telecommunications giant Telstra dipped (0.16 percent), the national carrier Qantas slumped (1.18 percent) and biomedical firm CSL plummeted (1.27 percent).
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