The S&P/ASX 200 Index (ASX: XJO) slumped once more on Wednesday, dropping 0.49% to close the session at 7,199.2 points.
It followed an equally disappointing session on Wall Street overnight. The Dow Jones Industrial Average Index (DJX: .DJI) fell 1% as most of Australia slept, while the S&P 500 Index (SP: .INX) dropped 0.6%, and the Nasdaq Composite Index (NASDAQ: .IXIC) slumped 0.2%.
The United States market struggled amid reports the nation's government is approaching its debt ceiling, which carries the potential to spark a recession.
But that wasn't the only news perused by investors today. Australia's wage price index (WPI) was found to have risen 0.8% in the March quarter and 3.7% over the year, according to Australian Bureau of Statistics (ABS) data.
That likely saw many let out a sigh of relief as it came in below forecasts, suggesting the Reserve Bank of Australia could hold off on another rate hike for now, Reuters reports.
Leading the Aussie bourse today was the S&P/ASX 200 Information Technology Index (ASX: XIJ), gaining 0.9%. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) weighed heaviest, falling 1%.
But which stock outperformed all others on Wednesday? Let's take a look.
Image source: Getty Images
Top 10 ASX 200 shares countdown
The biggest gain on the ASX 200 today was posted by the Lake Resources N.L. (ASX: LKE) share price. The stock rose 5.7% to close at 64.5 cents on Wednesday.
These shares made today's biggest gains:
| ASX-listed company | Share price | Price change |
| Lake Resources N.L. (ASX: LKE) | $0.645 | 5.74% |
| Life360 Inc (ASX: 360) | $6.84 | 5.72% |
| United Malt Group Ltd (ASX: UMG) | $4.45 | 2.3% |
| Domain Holdings Australia Ltd (ASX: DHG) | $3.36 | 2.13% |
| AGL Energy Limited (ASX: AGL) | $9.01 | 1.92% |
| Xero Limited (ASX: XRO) | $94.10 | 1.85% |
| James Hardie Industries plc (ASX: JHX) | $37.43 | 1.71% |
| Ampol Ltd (ASX: ALD) | $30.72 | 1.59% |
| ARB Corporation Ltd (ASX: ARB) | $31.33 | 1.46% |
| Kelsian Group Ltd (ASX: KLS) | $6.55 | 1.39% |
Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.
