ASX 200 nets biggest drop in five-weeks with tech hardest hit; Beach Energy hit by Clough collapse

Tech and energy lead falls on the ASX. GDP prints weaker than expected, Uber to pay $21m over misleading fares, Beach Energy plunges amid Clough fallout and Coronado rallies.

Investors are weighing up local and global economic outlook commentary as rates rise. Picture: David Swift

Welcome to the Trading Day blog for Wednesday, December 7. The Australian sharemarket slumped to its biggest one-day fall in five weeks after GDP for the third quarter printed softer than expected.

The S&P/ASX 200 index lost 61.87 points, or by 0.9 per cent, to 7229.40.

The dollar was buying US67c at the close.