Federal budget 'losers': CBA leads big banks' share price fall

The US sharemarket again bounded to new highs, despite another bad inflation read overnight. Investors are particularly keen to see what comes out of the US-China summit under way, with key business leaders attending. But in Australia, big banks are reeling from the federal budget changes, with the Commonwealth Bank now in correction. Watchlist: Commonwealth Bank, Xero, Alibaba Check out these stocks: www.moomoo.com/quote