ASX 200 fell 105 points to 7753 (-1.3%) as banks pulled back from record highs and resources came under pressure on commodity price drops on US data. Iron slipping badly towards $100, BHP down 1.8%, RIO down 1.9%, and FMG off 3.2%. Base metal stocks were badly mauled, S32 off 5.2% and PLS falling 3.8%, with other lithium stocks similarly afflicted. Gold miners also whacked on bullion falls, NST down 5.1% and NEM off 3.3%, with EVN down 6.5% and DEG down 6.2%. Oil and gas stocks also fell, with WDS off 0.4% and STO down 0.8%. Uranium stocks fell hard, BOE down 5.3% with PDN sliding 5.5% and coal stocks also in trouble, WHC down 3.9%. Banks slid slightly, with the Big Bank Basket down to $215.40 (-0.7%). WBC and NAB down 1.0%, with MQG falling 1.2%. Insurers down too, with QBE off 1.2% and ASX falling 1.4%. REITs suffered as bond yields rose, 10Y yields hit 4.31%. GMG falling 1.6%, SGP down 2.6% and SCG off 2.8%. Industrials down too, TLS fell 1.1%, with WOW and COL off as utilities eased back. ORG down 2.6%, and APA falling 1.3%. Healthcare offered no harbour, CSL off 0.9%. Tech eased, with the All-Tech Index down 0.5%. In corporate news, BAP rose 14.0% on an approach from Bain Capital at 540c, AGL fell 1.7% spending $150m to take a 20% stake in Kalauza. Saaint Gobain bid for CSR gets FIRB approval. On the economic front, business confidence fell back into negative territory in May. Asian markets mixed again, with China back from a holiday for Dragon Boat Festival down 1.9%, HK off 1.2%, and Japan down 0.2%. Dow Futures down 20 points. NASDAQ Futures down one point.

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