On Thursday, Australian stocks continued their downward trend, with the S&P/ASX 200 index slipping 0.2% to close at 8,666, marking its eighth consecutive day of losses and reaching a three-week low. Investor caution is heightened ahead of a potential interest rate hike by the Reserve Bank of Australia, as inflation remains above the central bank's target, rising to 4.6% in March. This increase in inflation has led to heightened expectations for further rate increases in the coming months. In contrast, the US Federal Reserve maintained its interest rates, but uncertainty persists due to internal disagreements and upcoming leadership changes. Notably, Woolworths' stock fell sharply after the company warned of weaker future earnings due to rising fuel costs, negatively impacting the consumer staples sector. Additionally, mining stocks faced declines as metal prices softened, with major companies like BHP, Rio Tinto, and Fortescue reporting losses. Despite the recent downturn, the market managed to recover 2.2% in April, as investors capitalized on undervalued stocks.