The ASX 200 dropped 49 points to 8565 (0.6%) after a promising start. US futures in the negative hurt sentiment, together with Japanese losses on higher rates coming. Losses pretty much across the board, CSL fell 1.4% on vaccine concerns, the banks wilted with the Big Bank Basket down to $262.95 (0.7%). ANZ falling 1.3% and financials under pressure, HUB down 4.5% and NWL falling 4.0%. MQG dipped 0.4%. REITS slid with SGP down 2.3% and VCX off 1.2%. Industrials also sliding, TLS down 1.2% with CPU falling 3.3% and REA off 0.8%. Tech slipped, WTC down 2.6% and TNE falling 2.1%. Retail also in the doldrums, TPW resumed the dive, off 7.3%, APE similarly off 2.1% and NCK down 3.0%.

In resources, Iron ore majors held firm, gold miners were mixed despite bullion rising, EVN down 1.9% and lithium stocks depressed, PLS off 3.2% and MIN down 3.9%. Oil and gas stocks rose, WDS up 0.9% and uranium stocks mixed.

In corporate news, AUB smashed 17.8% lower as the bid was withdrawn, TWE has cleared the decks for the new CEO with a $687m impairment on US goodwill. PME dipped 1.6% on another order, the ASX itself had issues this morning with its announcement platform falling 2.8% as many stocks were put into a trading halt.

Nothing on the local economic front. Japan opened the door a little further on rate rises.

Asia markets mixed, Japan down 1.8%, China up 0.8% And HK up 0.8%.

10-year yields pushing to 4.56%.

US futures – Dow down 267 Nasdaq down 273. The holiday season is over.

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