ASX 200 fails to find any floor falling 166 points to 7144 (2.3%). Down 2% for the week. A killer combo of US bank worries, nerves before the US jobs number and a capitulation is some resource stocks caused a rupture in the time space continuum. Banks were an easy target with CBA down 3.3%, ANZ down 2.6% and the Big Bank Basket falling to $170.15 (-3%). MQG dropped hard down 3.2% with insurers also under pressure, QBE down 1.8% and SUN caught in the crossfire down 2.8%. Wealth managers held up a little better with PPT down only 1.9% and MFG off 1.8%. PTM actually unchanged. Industrials under all sorts, CSL dropped 1.5% and REITS stumbled badly despite bond yields falling. Strange days indeed. Tech under pressure, XRO only down slightly off 0.3% with WTC off 1.6% and the All-Tech Index down 1.7%. Tourist stocks fell hard too, FLT down 3.6% and WEB off 2.6%. In resources it was a nasty day especially for lithium stocks. IGO down 7.2%, AKE off 8.6% and MIN crashing 6.2%. LYC dropped 4.7% with LTR falling 8.0%. BHP and RIO under serious pressure down over 3% and FMG nearly joining the 3% club. Gold miners did ok. Finding some safe-haven buying. NST up 1.7% and EVN up 1.1%. In corporate news, A11 and PLL responded to the short seller report and still fell hard as expected. APM up 2.3% on a new contract in North America. Nothing on the economic front. Asian markets hit hard as President Xi nominated unopposed to the top job.

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