The ASX 200 is down 0.5% this morning, dragged lower by financials with the big miners also down.
Coming off a weak lead from Wall Street, the big four banks are all feeling the pain today.
This chart from investing.com shows the ASX 200 financials index dropped sharply lower at the open and is currently down more than 1.2%.
Commonwealth Bank and Westpac are both down more than 1.5%, while NAB and ANZ are down around 1%.
In addition to the majors, investment bank Macquarie has lost around 0.8%.
Bendigo & Adelaide Bank is feeling the pinch, down more than 1% while its regional counterpart Bank of Queensland is down by 0.8%.