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ASX 200 crashes 143 points to 7370 as pent up selling and growth pessimism takes hold. All sectors were hit with the banks under serious pressure and the Big Bank Basket down to $182.06 with MQG falling 2.1%. Insurers too under pressure, QBE down 1.7% and IAG falling 2.4%. Healthcare sold off except RMD which was one of the few spots of green on screens up 1.8%.

Industrials smacked, TLS down 1.5%, WES off 1.9%, WOW down 0.5% and SEK down 4.1%. Tech stocks under serious pressure with APT following the Square Dance down 3.1% and the All-Tech Index down 2.9%. Resources whacked too on iron ore falls, BHP off 1.7% and FMG down 0.6%, holding up quite well considering. Gold miners and oil and gas on the nose, WPL down 2.1% and STO off 2.6%. In corporate news, WBT rose 27.3% on its first commercial agreement with SkyWalker and NVA rose 3.9% on a confirmed gold discovery.

On the economic front, payroll jobs fell by 0.7% in the fortnight to August 14. Total wages paid decreased by 1.0% according to the ABS.

ECB news tonight.