The Market Wrap with Scott Phillips, CIO at The Motley Fool

A huge drop on Wall Street saw the Australian share market following, wiping off gains from earlier in the week.

 

Market Wrap 

• • ASX200: down 0.58%, 7,311
  • AUD: 65.27 US cents
  • GOLD: $1,972 US/oz
  • BITCOIN: $44,568 AUD

 

• Information technology stocks were the worst performing,
• Xero and WiseTech fell 2.3 per cent and 1.4 per cent respectively.
• BHP was down 1.2 per cent
• Fortescue Metals Group down 1.3 per cent
• Rio Tinto down 1.7 per cent
• The big four banks all ended the day lower
• Westpac and ANZ are both down 0.4 per cent
• Commonwealth Bank has lost 1 per cent
• NAB has dropped 0.6 per cent
• Janus Henderson sank 4.7 percent
• Shares in Link shed 4 per cent after the company flagged a bottom-line loss of $418 million in its upcoming report.
• Downer fell 3.1 per cent after writing off almost $550 million ahead of its earnings next week.