The Aussie market plummeted today despite only a modest sell-off on Wall Street overnight.
As for the bulls and the bears, it was a story of just the bears today. The bears took charge from the open and accelerated the selling following weaker-than-expected Chinese manufacturing data.
The major banks helped drag the general market down; NAB suffered a 3.3% fall, while Westpac dropped 2.6%.
Signs of an economic slowdown in China didn't help the big miners; BHP sank 3.1%, and Rio Tinto dived 3.4%. Fortescue copped some of the heaviest punishment, sinking over 6.1%.
In the industrial space, NRW Holdings defied the negative trend with staggering 12.6% climb. The group upgraded its half year guidance by approximately 100%.
The ASX 200 slumped 82 points (-2.0%) to close on 4051.
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Evening Market Analysis: China Data Hurts is a post from: Australian Stock Report Market Pulse Blog