Financials bore the brunt of today’s selling, with most of the big banks declining more than 2%.
Toll road operator, Transurban slipped 0.8% even after almost doubling full year profit and lifting its FY12 dividend forecast.
In the mining space, BHP lost 0.2%, whilst Rio Tinto fell 1.3% ahead of its profit result, which was released after the market close.
Rio reported a 1H11 net profit of US$7.6 billion, up 30% on-year but missing analyst estimates. However the mining giant also announced plans to increase its share buyback.
The ASX 200 dropped 56 points (-1.3%), settling at 4277.