After a night like last night it was never going to be an easy day on the ASX today and the loss of 91 points took around $20 billion in market capitalisation from the local market.
But the drop of 1.75% was a very good performance given the Nikkei is down 3.65% and the Hang Seng has lost 2.50%.
Suggesting that there was an element of active and small trader fear today the biggest volume was in the big stocks with the top 5 turnover being in ANZ, BHP, Westpac, Commonwealth bank and Telstra.
But it wasn’t all bad news with JB Hi-Fi up 3% to $18.55 and REA Group, the parent of realestate.com.au, climbing around 2.5% to $41.07.
Tomorrow’s action will be determined tonight offshore and at the moment S&P 500 futures are ever so slightly in the black.