US stocks and the price of gold fell, as momentum on Wall Street reverses.

The S&P 500 sank 0.5 per cent, though it’s still within 1 per cent of its all-time high set earlier this month. The Dow Jones dropped 334 points, or 0.7 per cent, from its record set the day before, while the Nasdaq composite fell 0.9 per cent.

Wall Street remains near record highs. Credit: Bloomberg

The Australian sharemarket is set to fall, with futures at 8.07am AEDT pointing to a loss of 15 points, or 0.2 per cent, at the open. The ASX lost 0.7 per cent on Wednesday. The Australian dollar was fetching US64.88¢ at 5.15am AEDT.

Netflix helped drag the market lower after delivering a weaker profit for the latest quarter than analysts expected. The pressure is on the video streamer and on companies broadly

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