Half-time wrap:
The ASX 200 fell below 6800 for the first time in almost a year following a sharp sell-off on Wall Street as earnings disappointed and treasury yields rallied.
At the halfway mark, the Australian benchmark was down 64 points or 0.94% at 6790 and on track for its weakest close since last October.
Utilities was the only sector haven as the rest of the market declined. Tech stocks were the biggest drag, falling 3.9% after the Nasdaq's worst session since February. The tech-heavy US index slumped 2.43% overnight following earnings disappointments from Alphabet (Google), Texas Instruments and European fintech Worldline.
RBA Governor Michele Bullock this morning told the Senate it was too soon to lock in a rate hike at next month's meeting. All four major banks forecast a quarter-point hike in November after consumer inflation data came in hotter than expected yesterday. Bullock had previously warned that a "material" increase in inflation would warrant higher rates.
"We have to see whether the results are material enough to justify a change in monetary policy," she told the Senate estimates committee.
Asked if inflation was under control, Bullock said, "We are wary and we don't know if the job has done yet."
Personal trading: Caught the low in LIN. Used centre-point for a fat half-pip from ME1 (I don't like the fact centre-point exists, but the instos abuse the shizzle out of it and if you can't beat them...) Waited for ERW half a pip lower and missed the upswing.
