5 things to watch on the ASX 200 on Wednesday

It looks set to be a tough session for Aussie investors today.

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On Tuesday, the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.35% to 7,664.1 points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 expected to sink

It looks set to be a session to forget for the Australian share market on Wednesday following a market selloff in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day 98 points or 1.3% lower. On Wall Street, the Dow Jones tumbled 1.5%, the S&P 500 dropped 1.6%, and the Nasdaq sank 2%. Investors were selling stocks after bond yields widened.

Oil prices drop

ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a difficult session after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 1.25% to US$81.60 a barrel and the Brent crude oil price is down 0.6% to US$87.87 a barrel. This was driven by another round of disappointing inflation and economic data.

Buy Liontown shares

The Liontown Resources Ltd (ASX: LTR) share price could be great value according to analysts at Bell Potter. In response to the lithium developer's quarterly update, the broker has retained its speculative buy rating with a trimmed price target of $1.85. This implies an almost 50% upside for investors from current levels. It commented: "LTR's 100% owned KV lithium project remains highly strategic in terms of its stage of development, long mine life and location."

Gold price crashes

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a very poor day after the gold price sank deep into the red overnight. According to CNBC, the spot gold price is down 2.4% to US$2,302.2 an ounce. Traders were selling the precious metal in response to the release of US economic data. Nevertheless, this couldn't stop the gold price from recording a solid 3% gain for the month.

Woolies selling Endeavour stake

The Endeavour Group Ltd (ASX: EDV) share price will be on watch today. That's because there is speculation that supermarket giant Woolworths Group Ltd (ASX: WOW) is looking to offload a large portion of its remaining stake in the Dan Murphy's owner. According to the AFR, Woolies is looking to receive $468 million for a 5% stake in the drinks giant.

Motley Fool contributor James Mickleboro has positions in Endeavour Group and Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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