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None of the above. It was simply a case of a lot of profit sitting in CSM for a lot of people, in particular, funds. Funds will be quick to protect profits. CSM if now back to attractive PE so I expect them to rapidly recover this lost ground over the coming weeks. The medium to long term outlook for CSM has not changed. The increasing dividend yield will ensure that CSM continues to perform (most likely outperform) over at least the next 3-5 years. Short term global activity will have a short term effect on CSM. The overall fundamentals have not changed in regards to the global consumption of Iron Ore and the associated metals & minerals. I'll be buying more CSM this week as opportunities present themselves. The Funds will also be back into CSM because they are going to be even more keen to buy companies like CSM with low PE ratios and increasing dividend yield.