S&P/ASX 200 (INDEXASX:XJO) slipped 13 points or 0.2% to 6,297, snapping a two-session winning streak.
The financial sector was the worst hit, falling 1.8%.
Commonwealth Bank (ASX:CBA) shares dropped 2.5% to $73.50 after the lender said it had set aside another $714 million in the third quarter for customer remediation.
Fewer than anticipated burst pipes
The plumbing supply firm is now expecting an FY19 EBITDA of between $260-270 million due to fewer than anticipated burst pipes during the US winter.
Dairy cooperative Fonterra (ASX:FSF) has sold New Zealand ice cream brand Tip Top to global giant Froneri for NZ$380 million.
In upcoming economic news, US data on consumer inflation expectations will be released.