The Australian sharemarket remains in the red at lunchtime with energy and financial stocks weighing on the index.

The S&P/ASX 200 was 29.8 points, or 0.3 per cent, lower to 8841.4 at 12.56pm AEST, with eight of 11 sectors in negative territory.

Traders are now betting on a 100 per cent probability that the Fed will cut its main interest rate at its next meeting on September 17, according to data from CME Group. Credit: Bloomberg

Financial stocks are weaker with the big four banks all losing ground. ANZ shed 1.1 per cent, NAB lost 0.9 per cent, Westpac fell 0.7 per cent, and Commonwealth Bank retreated 0.5 per cent in early trade.

Energy stocks are lower as oil prices weakened. Woodside slumped 3.3 per cent and Santos lost 1.5 per cent.

The miners are mixed. Rio Tinto rose 1.4 per

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