End of Day Report – Thursday 4 June: ASX 200 drops 100 - Resources smacked - Banks fall - US Futures mixed - Gold up

The ASX 200 fell 100 points to close at 8686 _1.1%), with losses across the board. Banks held up better, with CBA down 0.6%, and WBC the worst of the bunch, down 1.7%, with MQG also falling 1.1%. The Big Bank Basket dropped to $270.46 (-1.8%). Insurers were better as bond yields rose, with QBE up 1.2% and the rest of the financials losing ground. Tech stocks were struggling today, with XRO falling back to earth by 4.2% and the All-Tech Index falling 1.4% as profit-taking moved in after the recent bounce. In the industrials, we saw TLS fall 2.9%, although defensive stocks bucked the downtrend, with WOW and COL both positive, along with utilities ORG and APA. Healthcare stocks were showing some signs of life, with RMD finding a bottom, at least temporarily, up 2.6%, and CSL up 0.4%. The real damage, though, today was done in the resource sector, as the iron ore price came under pressure and profit-takers moved into the iron ore stocks, with BHP down 3.3%, RIO down 3.3%, and FMG down 4.1%. Elsewhere in the gold space, we saw selling again in NST, off 6.1%, and EVN falling 3.0%, with lithium and rare earth stocks all under pressure. PLS dropped 4.5%. Big losers today as well were the big winners yesterday in the uranium sector, with PDN falling 8.2% and DYL down 5.2%. The oil and gas space was modestly higher, with both Woodside and Santos rising, together with coal stocks, with WHC rising 3.0%.In corporate news today, PME secured a five-year renewal in the U.S. TWE had a very good day as it presented to investors with no downgrades and some optimistic outlook statements. IPX fell 4.6% after its DFS study for its Critical Minerals project in Tennessee.Nothing significant on the economic front, although we did have some international goods trade data out, showing exports increased 7.2%, driven by metal ores and minerals.Asian markets mixed. Japan down 1.5%, Hong Kong down 1.4%, and China down 0.6%. South Korea eases back around 1.6%US futures: Dow up 26 and Nasdaq down 151. Marcus Today – Daily Market InsightsMarcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.If you'd like to go further:Start a free 14-day trial of Marcus Today http://bit.ly/mt-trial-podcastJoin Marcus Today Use code MTPODCAST for 10% off http://bit.ly/mt-join-podcast-offerMT20 – Managed ETF Portfolio A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing. http://bit.ly/mt20-podcastPrinciples – How We Think About Investing A short video series on timing, behaviour, and decision-making. No stock tips. http://bit.ly/mt-principles-podcast—Disclaimer This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.