Local markets are still struggling to find an upward catalyst, as the ASX 200 followed Wall Street lower in Tuesday trade.

Tech stocks again led falls at the big end of town, as the ASX 200 Information Technology index dipped by 1.46%.

Higher energy costs and lingering supply-side bottlenecks continue to feed the cost-push inflation narrative, which some analyst say could pose a challenge for policymakers trying to unwind emergency post-COVID stimulus settings.

ASX 200 energy stocks also came off from recent highs today, as oil prices remain elevated above US$80 a barrel.

There were more moderate falls for banking and resources stocks while gold stocks edged higher.

BIG CAP WINNERS

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Metals recycling company Sims Metal Management (ASX:SGM) continued its October rally off recent lows, and has now climbed by around 10% over the past week.

West African-based gold play Perseus Mining (ASX:PRU) was also among today leaders with a gain of almost 5%.

Also posting steady gains on Tuesday was $131bn health giant CSL Ltd (ASX:CSL), which held its annual general meeting today.

Bluescope Steel (ASX:BSL) also rallied off recent lows beneath $20, and mid cap gold miner Westgold Resources (ASX:WGX) continues to track higher in the wake of its unsolicited takeover bid for  Gascoyne Resources (ASX:GCY) on September 30.

BIG CAP LOSERS

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After three days of solid gains, BNPL stocks Sezzle (ASX:SZL) fell by more than 5%. Fellow BNPL stock Zip Co (ASX:Z1P) was also among the large cap laggards wit a dip of around 3%.

In a negative session for tech stocks, call-recording software platform Dubber Corp (ASX:DUB) lost ground, while Appen (ASX:APX) is consolidating below $10 after climbing to post-COVID highs above $40 in 2020.