The ASX 200 fell 21 points to 8666 (0.2%). Banks held firm as resources struggled against a sea of oil troubles. As crude rallies, commodities elsewhere are falling. ANZ results kick us off in the morning and the Big Bank Basket firmed to $ 288.69 (+0.9%). Other financials did well too, SOL up 2.6% with AMP better and insurers also doing well, QBE up 0.8% and MPL up 1.7%. REITs better too, GMG up 2.2% and SCG rising 1.6%. Industrials had a green tinge, WES rallied 0.8%, BXB 2.5% better and REA jumped 1.5%. Tech stocks got a boost from US tech, WTC soaring 3.4% with NXT up 1.7%. The All-Tech Index up 0.5%. Healthcare mixed, CSL falling another 1.1% with RMD in trouble, off 1.9%.

Resources bore the brunt of the selling, BHP off 2.2% with FMG down too, gold miners slid, NST off 2.7% and EVN falling 5.3%. Higher oil prices hurting. S32 collapsed 5.4% on an update from a US project, MIN jumped 3% on an update and lithium stocks slipped lower. LTR down 3.3% and IGO off 1.9%. Oil and gas pushed ahead, WDS up 1.5% and STO up 3.0%. Uranium stocks sold down, PDN off 4.7% and LOT fell 34.0% on production issues.

In corporate news, EOS reported a $518m contract backlog. 4DX has a cash balance of $282.7m. Operating revenue rose 12% to $5 million with gross margins above 90%. WOW was smashed 7.8% on an update as higher diesel costs are starting to impact profits. The ASX announced Daniel Yip will take over as interim CEO.

In economic news, prices for imports rose 0.1% in the March quarter 2026 but fell 0.3% over the last 12 months. ECB and BoE tonight.

Asian markets slide, Japan down 1.1%, China down 0.3% and HK off 1.3%.

Dow Futures down 280, Nasdaq down 80. Oil hits wartime high.

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