End of Day Report – Tuesday 25 February: ASX 200 drops 56 | Some very bad reactions today

 The ASX gave up another 56 points to 8252 (0.7%). Results and a negative US lead dominated. Some real shockers today, JLG, DMP and VEA in the frame. Banks and sellers return with CBA down 1.3% and NAB falling 1.4% as the Big Bank Basket fell to $250.25 (-1.1%). MQG slipped 1.0% and PNI retreated 3.3%. Insurers firmed and REITs did better after the sell off yesterday. GMG failed to inspire again though down another 1.4%. Industrials weakened, WES fell 3.4% with ALL off 2.8% and retail suffering again. JBH down 0.5% with DMP falling 10.5% on results and store closure costs. LOV dropped % on broker downgrades, GYG continued to fall, and WTC remained under pressure ahead of results tomorrow, off 2.8%. Tech generally eased with the All-Tech Index down 1.4%. Resources were weak too, BHP, RIO and FMG under pressure, MIN fell 4.6% and PRN rallied 8.6% on a rethink. gold miners found some buyers, NEM bucked that trend down 2.8%. WDS rose 2.8% on better-than-expected results, VEA collapsed 26.7% on challenging condition in the convenience space, uranium stocks were punished again today.  In corporate news, JLG fell 33.4% as it revised down guidance on lack of natural disasters.ZIP rose 13.9% on better results, HLI up 17.2% too on better numbers. QOR rose 4.3% on results and DRO fell 8.6% as numbers underwhelmed. In economic news, nothing locally, South Korea cut rates by 25bps. Asian markets fell, HK down 0.6%, China off 0.1% and Japan off 0.3%. 10-year yields slipped to 4.39%. Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.