Episode Details

The ASX 200 finally made up its mind after oscillating between positive and negative territory and closed down 29 points at 8,787 (-0.3%). Resource stocks were back on the nose as the gold price slipped lower in Asian trade, with NST down 2.7%, EVN down 2.5%, and NEM down 2.1%. BHP eased slightly, along with RIO, while lithium stocks once again came under pressure, with PLS down 1.1% and MIN off 2.5%. Most resource stocks finished lower on the day. Uranium stocks also came under pressure, along with oil and gas names, with WDS down 0.4% and VEA falling 2.4% on news of issues with its refining capacity.

The other sector struggling today was technology, which simply can't seem to catch a break. After a small bounce yesterday, WTC once again succumbed to selling pressure and fell 4.4%, while XRO continued its recent decline, falling 5.3%. TNE also had a shocking session, down 7.1%. Data centre stocks were weaker following the sell-off in the US, with NXT down 1.7% and MP1 coming back to earth by 5.1% Industrials were mixed, although we did see some defensive buying in TLS and the supermarket stocks. The banks were firm and helped limit the market's losses. CBA rose 0.5%, ANZ was one of the best performers, up 1.4%, and the Big Bank Basket closed at $273.76 (+0.8%).

Retail stocks drifted lower, as did healthcare, although CSL slipped back into negative territory. Retail names eased as bond yields pushed slightly higher. Fast-food stocks were also weaker, with CKF down 5.4% and DMP falling 5.2%.

In corporate news, WTC remained in focus after the company said Richard White was not aware of any investigation by the AFP. RWC fell 3.0% after announcing it would close its brass casting operations in Victoria. There was nothing on the economic front today.

Nikkei 225 down 1.8% South Korea down 4%, HK down 1.5% and Shanghai down 1.8%. 

US Futures - Dow Jones down 300, Nasdaq down 630 

European futures showing a 1% loss.

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