Marcus Today End of Day Podcast – Tuesday 20th December

ASX 200 crashed 110 points to 7024 (1.5%) today on a killer combo of weaker US, RBA minutes and the shock of the BoJ effectively letting rates drift higher. 10-year yields jumped to 3.71% and banks at least held their ground on the jump but everything else, well Split Enz summed it up. I See Red! Maybe more Martha with no where to run, no where to hide. Except banks with the Big Bank Basket unchanged at $182.68  MQG fell hard 1.6%, Insurers better, just, Fund managers turned lower, MFG down another 2.0%, AMP off 1.5%.  Healthcare in ICU with CSL down 0.9% and FPH off 2.0%, RHC down 2.5% and RMD easing back. REITS were smashed on higher interest rates, GMG down 4.5%, SCG off 3.8% and DXS down 2.4%. Old skool platform stocks dropped hard as DHG revealed surprisingly weak listing numbers. REA followed down 7.7% and CAR off 3.3% with SEK not found off 5.5%. Industrials hit hard, WES down 3.4%, ALL off 4.5% and DMP falling 4.0%. Resources though bore the brunt of the sell off. Holding in for so long it was only natural, that ice would melt and so would BHP off 1.6%, FMG slid 1.5% and lithium and base metal stocks saw sellers back ready or not. PLS down 4.2% and S32 off 2.4%. Energy stocks too ran out with WDS off 1.2% and WHC down 2.6%. In corporate news, DHG whacked 9.1% with NEC, on update. BWX returned and wished they hadn’t falling 53.2%. JLG cratered 12.3% as the COO sold 4m shares to ‘diversify his risk’.  CCX freaked out falling 31.4% on volatile demand. BHP extended its DD on OZL for another week. Someone is working over Xmas. In economic news, consumer confidence end 2022 on a weak note. Maybe a middle D.  The RBA minutes showed could have been anything. BoJ raised rates! 10 year yields soared, Asian markets slapped down.

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