Why the ASX 200 is sliding on the first day of FY27

The S&P/ASX 200 Index (ASX: XJO) is having a rough start to the new financial year.

At the time of writing, the benchmark index is down 0.75% to 8,712 points. 

That follows a softer finish to June, with the ASX 200 down 0.22% over the past month.

The pressure has carried into the…