This is brutal, page-7

I am not buying as I am overweight but also not panicking. No disaster has befallen ANZ and the div which should be maintained will support the sp at some level.

As far as explaining it:
disappoint results => in stark contrast to MQG for example
OS outflow on AU rates going down maybe and US going up maybe
capital requirements have hit in a few places (high interest to borrowers => less business; dilution for shareholders; less of a gap to the regionals => less market share or lower margins)
options expiry could mean a bit of a distortion to still may get a recovery leading up to the div

AU banks have kept on keeping on and history would imply that they will overcome this as well.