Shares hit three-month low on Russia worries, banks fall

The sharemarket's wobble comes as the monthly consumer price index is expected to show prices rose by 6.1 per cent in May, according to the median estimate of economists. "It's hard to determine what the financial implications are of events in Russia," said Peter Gardner, a senior portfolio manager at Plato Funds Management. "It's good for Ukraine I imagine in terms of the war, but it's not clear what it means for markets. "Central banks are serious about trying to reduce inflation and are willing to push hard in that regard. The other interesting aspect is China, people expected increased…