The ASX fell 139 points to 7843 (-1.7%). Tariff and global growth fears weighed as Asian markets saw profit taking, Japan off 3.8%. Some patches of green with the banks holding up better than expected, CBA up 0.3% but MQG off 3.4% though with the Big Bank Basket down to $245.62(0,2%). Financials geared to the market were in trouble across the board, GQG fell 2.8% with the ASX in trouble with ACCC and ASIC off 2.8%. PNI fell 4.0% with ZIP dropping 7.7% on US consumer slowdown. AMP also falling 3.5%. REITs slid, GMG dropped 2.9% with SCG down 2.0% and industrials also falling. TLS fell only 0.5% on defensive perceptions, CPU down 2.7% and retail sliding, JBH off 1.9% and PMV falling 2.8%. ARB dipped another 3.1% with DMP down 4.6%. ‘Old Skool’ platforms also under pressure, REA dipped 3.3% on news NEC were in DD for the CoStar bid, SEK down 4.0% and the All–Tech Index down 2.2%. WTC rallied 1.5% as it named two new directors. Resources which had done better last week, cast all that asunder and we saw selling in the iron ore stocks, BHP down 3.8% and FMG off 4.0% with lithium under pressure, PLS off 8.2% with LTR falling 4.6%. Gold miners were mixed despite gold heading through $4900. WGX fell 1.4% and NST down 1.7%. Oil and gas also lower, WDS off 2.9% and KAR dropping 5.1%. Uranium stocks were knocked over again, PDN down 5.7% and NXG off 7.3%. In corporate news, DHG was the big one today, down 1.6%. Todd Sampson quit the QAN board, and HMC fell 5.8% as talks emerged of ambitions on Healthscope. Nothing locally on the economic front. Asian market fell hard, Japan under serious pressure, off 3.8% with China and HK down 1.7% and 1.0% respectively. 10-year yields around 4.39%

HIGHLIGHTS

• Winners: CYL, ORA, MLX, DYL, PNR
• Losers: SVM, ADT, PLS, ZIP, LNW, NXG, CIA
• Positive Sectors: None.
• Negative Sectors: Iron ore and lithium.
• ASX 200 Hi 7957 Lo 7843
• Big Bank Basket: Falls to $245.61(-0.1%)
• All-Tech Index: Down 2.2%
• Gold: Rises to $4953
• Bitcoin: Falls to US$82362
• 10-year yield lower at 4.39%.
• AUD: Falls to 62.85c
• Asian markets: Weak Japan down 3.8%, HK down 1.7% and China off 1.0%
• Dow futures down 131 Nasdaq down 216

MARKET MOVERS

• MLX +3.8% tin production issues from Myanmar.
• SRV +1.9% change of director’s interest.
• OPH +1.4% weekly NTA.
• PNR +3.0% broker research.
• SXE +6.4% acquisition.
• MM8 +10.9% exceptional 6.5m at 20.2g’t Au and 5% at Ravensthorpe.
• STK +10.0% Horse Well Mineral Resource estimate
• ADT -10.4% resource decrease.
• PLS -8.2% shorts get stuck in.
• LNW -7.6% class action weighs.
• FFM -6.3% copper falls.
• DRO -4.8% profit taking.
• Speculative Stock of the Day:  Nothing on any volume.

ECONOMIC AND OTHER NEWS

• Angang Steel, the listed arm of China’s second-biggest steelmaker, racked up a loss of nearly $1bn last year, underscoring torrid conditions in the industry as demand shrinks and prices plunge.
• China’s WeRide driverless tech profitability ‘difficult to predict’.
• The official Chinese purchasing managers’ index came in at 50.5 in March, according to the National Bureau of Statistics data released today.
• The non-manufacturing PMI, which covers services and construction, also rose to 50.8 from 50.4 in February.
• Tech stocks listed in Hong Kong fell into correction territory Monday, as investors booked profits.
• The Hang Seng Tech index, which tracks the some of the largest mainland Chinese technology companies listed in Hong Kong, has declined 11% since its March 18 high, after dropping over 2% Monday.
• Greenland’s new leader insists US ‘is not getting’ control of the territory.
• Goldman Sachs expects aggressive duties from the White House to raise inflation and unemployment and drag economic growth to a near-standstill.

And finally……………..

I went skydiving today for the first time. This guy strapped himself to me, we jumped out of the Plane and as we plummeted, he said: “So, how long have you been an Instructor?”

Clarence
xxxxx