The Aussie market had a dismal day, despite the moderately positive lead provided by international markets overnight. All the sectors but telcos finished in the red; materials and IT stocks the hardest hit.
All the big four banks closed weaker, with CBA the worst performer, losing 0.8%. The mining majors weighed on the market after a mostly weaker night on commodity markets. BHP and Rio Tinto lost 1.5% and 1.8% respectively.
The ASX 200 let go of 38 points (-0.8%) to settle at 4472. The market had a horror week, dropping 2.2%.