Australian stocks fell, breaking a four session rise.
The ASX 200 shed almost 1%. A short time ago, the index was at 5,230.10, down 51.68 points or 0.98%.
Financial stocks led the slide.
All the big four banks were down more than 1% with ANZ dropping 1.6% to $23.36 and the NAB 1.5% to $24.68. AMP lost 1.5% to $5.15.
Retailers were getting a hammering after official figures showing retail sales growth is trending down.
Harvey Norman shed 4.6% to $4.35, Myer 3.4% to $1.11 and JB Hi-Fi 2.6% to $23.85.
IGA supermarkets operator Metcash was down 3.7% to $1.925.
Mantra, the hotel accommodation group, dropped more than 10% to $3.05. Credit Suisse cuts its recommendation to a NEUTRAL.