Aussie shares move into technical correction after fresh plunge

has moved into a technical correction after another volatile day of trading.

A financial correction is traditionally defined as a decline of 10 per cent or more from the market's 52-week high.The ASX200's performance over the last six months has seen usual trading followed by a steep plunge. Losses were wide and varied, with some notable retreats from property websites REA Group and Domain Holdings Australia .

Today, the National Australia Bank revised its forecast for when the Reserve Bank of Australia will next hike up interest rates, arguing that bigger-than-expected inflation data will force the board's hand.

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