Thanks afternoon crew. Tough day at the office. Hope all came through with their shirts on.
End-of-day summary:
The share market succumbed to its heaviest loss in four weeks after a bond market sell-off accelerated, US stocks tumbled and a dip in the jobless rate kept rate hikes on the table.
The ASX 200 slumped 96 points or 1.36% to 6982. Today's fall was the largest in points since a 98-point plunge on September 21.
All 11 sectors dropped, with falls ranging from 0.33% for utilities up to 1.84% for tech. Gold miners offered a haven after the yellow metal scaled a seven-week high overnight.
US stocks tumbled overnight as the yield on 10-year bonds tested levels last seen in 2007. The S&P 500 shed 1.34%.
The Australian 10-year yield hit a 12-year high today after the unemployment rate dropped to 3.6% last month from 3.7% in August. Tightness in the labour market adds to wage pressures, which in turn feed inflation.
