The benchmark S&P/ASX 200 index was down 3.60 points or 0.05 percent at 6,995.20, while the broader All Ordinaries index was up 2.00 points or 0.03 percent at 7,250.30.
"Today's losses have been across the majority of the market with nearly all sectors in the red," CommSec finance writer James Tao said.
"While energy and consumer staples are seeing some of the larger percentage falls, the heavyweight sectors of financials, materials and healthcare are contributing most to the broader declines."
On the economic front, the Reserve Bank has released its semi-annual Financial Stability Review (FSR). The FSR highlights that financial systems in Australia and internationally have been largely resilient to the impact of COVID-19.
In the financial space, the big banks mostly lift with Commonwealth Bank up (0.01 percent), National Australia Bank up (0.34 percent), Westpac Bank up (0.20 percent) but ANZ unchanged (0.00 percent).
Mining stocks mostly dropped with BHP down (0.83 percent), Rio Tinto down (0.33 percent), Fortescue Metals down (0.52 percent), but goldminer Newcrest up (1.06 percent).
The country's oil and gas producers sank with Oil Search down (0.48 percent), Santos down (0.98 percent) and Woodside Petroleum down (0.57 percent).
Australia's largest supermarkets were down with Coles down (0.13 percent), and Woolworths down (1.27 percent).
Meanwhile, telecommunications giant Telstra was unchanged (0.00 percent), the national carrier Qantas rose (0.55 percent) and biomedical firm CSL was down (0.96 percent).
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