Half-time wrap:
The share market took a heavy tumble after weak leads from Wall Street were compounded by a fall in unemployment that added to pressures on the Reserve Bank to increase rates.
The ASX 200 slumped 91 points or 1.3% towards its heaviest loss in at least two weeks. All 11 sectors declined.
Just eight of the index's 200 component companies gained more than 1%. Weebit Nano, Northern Star and Bapcor filled the top three slots, adding at least 3% each. At the heavyweight end of the market, only three companies rose: Newcrest, Telstra and Santos.
Bond markets once again dictated the tone among equities. The yield on 10-year Australian government bonds today cracked 4.75% for the first time since 2011. The upswing followed a 16-year high in its US counterpart overnight. Improved yields from risk-free bonds undermine buying interest in riskier assets such as stocks.
Expectations for another rate hike this year were sharpened by news that the unemployment rate fell to 3.6% last month from 3.7% in August.
Personal trading: Murder on the dancefloor. Got a piece of the bloodied carcass of TOR early enough for a modest gain. Also caught mild recoveries in QGL and PCL when the bleeding stopped.
