By Oliver Gray
Investing.com - The S&P/ASX 200 fell 78.1 points or 1.1% to 7,043 after the first hour of Thursday’s trade, retracing gains of 0.4% in the previous session as risk sentiment soured amid rising yields, with banks and real estate companies extending losses.
ASX 200 Futures were pointing 0.6%.
Among stocks, Financials were down 2.9% as Australia and New Zealand Banking Group Ltd (ASX: ANZ ) fell 2.9%, National Australia Bank Ltd (ASX: NAB ) lost 3%, Westpac Banking Corp (ASX: WBC ) fell 4% and Commonwealth Bank Of Australia (ASX: CBA ) lost 4%.
Materials were 0.6% lower overall with Rio Tinto Ltd (ASX: RIO ) up 0.6%, BHP Billiton Ltd (ASX: BHP ) down 0.1%, Fortescue Metals Group Ltd (ASX: FMG ) up 0.3%, Arizona Lithium Ltd (ASX: AZL ) losing 6.3% and Lake Resources NL (ASX: LKE ) down 4.5%.
Meantime, Magellan Financial Group Ltd (ASX: MFG ) added 3.6% after co-founder Hamish Douglass announced that he will take a consultancy role within the company.
In New Zealand, the NZX 50 fell 0.4% to 11,217.7.
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