IRONORE/ Heavyweights BHP BHP.AX and Fortescue FMG.AX lost 0.8% and 0.7%, respectively. Australian equities tracked declines in global markets after a Fed official said that the central bank was open for a possibility of a 75 basis point increase in rates even after the softer-than-expected inflation data in July. But we've reached that stage of the year where price action is choppy and its direction can be fickle" said Matt Simpson, market analyst at City Index.