•  ASX 200 fell 246 points to 6686 (3.6%). A surprisingly calm and steady day at least after the collapse at the open. Good rally into the close as US futures rallied. Sideways from the initial dump. All sectors of the market were trashed today with the financials under pressure led by the big four as the Bank Basket fell to $160.11 (3.4%). MQG fell 5.2% as deals are drying up, MFG down just 0.4 % and insurers under pressure with QBE down 4.0%. Healthcare proved no happy hiding place, CSL down 2.7% and RHC falling 3.5%. RMD the best of the bunch up 0.2%. 
• Industrials under pressure, even consumer staples succumbed to the sell off. WOW down 1.5%, COL off 1.4% and EDV unchanged. REITs got smacked down as GMG fell 3.6% and DXS down 4.6%.; Tech stocks sold off led by SQ2 down 15.1% with WTC down 6.0% and Z1P falling 15.9%. In resources, BHP staggered 4.2% wiping 30 points off the index by itself. Iron ore stocks were down hard as China sees CV10 cases rise and some restrictions back. FMG fell 8.5%, RIO down 4.2% and base metal stocks eased, IGO down 4.0%, S32 off 6.5% and lithium stocks depressed, PLS down 4.0% and AKE off 5.3%. Plenty of other casualties in the hot metal space, oil and gas also under pressure, STO down 5.0% and WDS down 5.3%. No hiding in energy despite oil holding above US$120.
•  In corporate news, WGX rose 3.9% on production numbers, MSB down 10.3% on a second-class action. 
• Not much on the economic front, household spending rose 7.6% in April 2022. Asian markets lost ground as expected but escaped better than local markets, China down 1.9%, HK off 0.9% and Japan down 1.8%. 

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