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A nasty day today with few places to hide as the ASX 200 dropped 134 points or 1.9% to 6932. Banks were hit hard with the Big Bank Basket dropping $4 to 173.83. Big miners were hit too by news that China is looking to increase domestic supply and diversify its sources of iron Ore. BHP dropped 3.4% and FMG down 3.1% despite reaffirming guidance. Bargain hunetrs and a bounce no where to be seen. 
The big loser of the day was EML crashing nearly 46% on news from the Irish Central Bank that it is looking at the company in regards to AML issues and corporate governance. Not great news.

Fed minutes tonight and maybe some stability tomorrow.