• The ASX 200 slips 57 points to 7390(0.8%) as banks stumble lower. The Big Bank Basket fell to $180.67 down 1.2%. CBA led the rout with a loss of 1.5%. WBC fell 0.7% and MQG dropped 1.4%. MFG bucked the trend with a small gain of 2.7%. Insurers dropped with QBE down 1.3% as 10-year yields eased back to 1.89%. Healthcare also fell led lower by CSL down 0.7% and SHL off 0.6%. 
• Industrials too succumbed to the selling pressure, COL down 2.5%, WOW down 2.1% and WES off 1.4%. TLS fell 1.0% and REITS on the nose despite some relief on yields. Tech held firm just but sense that the selling will kick back in, APT up 1.7% though XRO fell 1.0% and WTC falling 0.7%. The All-Tech Index down 0.7%. Mining stocks still the place to be. FMG up 2.3% and RIO doing better with gold miners slightly firmer, NCM up 0.8% and NST rallying 1.8%.
•  Lithium stocks came off the boil with the exception of CXO which powered ahead 8.6%. In corporate news, PNV rose 25.2% after good US sales but patchy sales elsewhere. PBH rose 3.5% after news of NY operations, ING fell 6.0% after warning of the impact from omicron. 
• Plenty of economic news around, retail sales soared in November but have probably crashed since, a fourth straight decline in the trade balance and consumer confidence fell 2.2%. Bond yields eased back, and Asian markets mixed. HK better but elsewhere Japan and China eased.

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