Australian stocks slip

Tony Margiocchi / Barcroft Media via Getty Images

Australian stocks fell on Monday despite a strong rise on Wall Street.

In the US, the S&P500 closed 1.5% higher and the Dow Jones was up 1.4% on Friday.

At the close, ASX200 was at 5,820.70, down 17.30 points or 0.30%.

The banks led the slide with the NAB down 0.8% to $28.68.

Shares in consumer electronic retailer JB Hi-Fi dropped 8% to $$25.86 despite posting record half year sales.

Other retailers were also under pressure. Myer was down almost 6% to $0.55 and Harvey Norman 3.6% to $4.25.

Last week the ASX200 fell 4.6% after being battered by selling from Wall Street.

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