SYDNEY — Australia's benchmark S&P/ASX 200 index fell Wednesday, tracking a weak overnight session on Wall Street that was led by a sharp selloff in technology stocks, as investors also digested a wave of local corporate earnings, including highly anticipated full-year results from Commonwealth Bank of Australia.

The index was down 63.2 points, or 0.68%, to 9,187.4 as of 1:21 p.m. Sydney time, giving back a portion of Tuesday's gains, when the benchmark had climbed 0.2% to close at 9,250.6.

Wednesday's weakness followed a broadly negative session in the United States, where the Dow Jones Industrial Average fell 0.35%, the S&P 500 dropped 0.3% and the Nasdaq Composite tumbled 0.6%. The declines were concentrated heavily in technology and communication services names, with Alphabet shares falling 3.8% amid continued investor unease following Google's decision last week to restructure its artificial intelligence divisions, while AppLovin dropped nearly 6%. That weakness flowed directly into Wednesday's ASX session, with Australia's communication services sector leading the market's decline, falling more than 2%.

Rising oil prices provided a partial offset for parts of the local market. According to Bloomberg data, West Texas Intermediate crude climbed 1.55% to $83.40 a barrel, while Brent crude rose 1.6% to $89.10 a barrel, as doubts persisted over the........

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