The ASX fell another 12 points to 8802, well off lows, as resources were slammed hard. The market finished well off the lows of the day as US futures recovered from heavy early losses. Banks held up again, CBA up 1.3% and the Big Bank Basket up to $297.93 (+0.9 % ). MQG dropped 0.4%, and financials were mixed — ASX up 1.6% and GQG off 1.7% again. Insurers saw small gains, SUN up 0.6% and MPL up 1.2% on an acquisition. Industrials were mixed, TLS rose 1.5% with BXB recovering slightly, WOW and COL rose, and TCL up 0.8%. Tech stocks fell, XRO off 0.9% and WTC continuing to fall off 1.4%. The All-Tech Index was down 1.7%. Healthcare stocks were mixed — CSL fell 0.4% despite a briefing on vaccines this morning, RMD up 0.6%, and PME slipping 1.4%.

Resources tumbled, BHP off 0.5% with FMG down 2.5%, though well off the lows. Gold miners saw small losses even as bullion pushed higher. Lithium stocks fell hard, PLS down 3.3% and MIN off 3.4%. Rare earths saw heavy losses, LYC off 3.3% and ILU down 3.6%. Second-liners like ARU fell 5.7%, well below the SPP placement price of 28c.

In corporate news, TYR appointed Nigel Lee as new CEO, GMG fell 3.4% on an AGM update. WDS looking to boost cashflow.

Nothing on the economic front here. Asian markets crumbled in places — the Nikkei 225 dropped the most since April, as tech valuations came under scrutiny.

Asian markets - HK up 0.1% China up 0.1% and Japan down 1.5% 10-year yields 4.31%. US Futures off lows, Nasdaq down 52. Dow up 56.

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