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1.Market Observations

18 May 2017 (AFR) – ASX savaged as investors flunk confidence test

(18 May 2017, AFR, p28, by: Patrick Commins, Myriam Robin)

Markets round up - Wednesday 17th May‘Renewed selling in the major banks led a savage sell-off on the ASX, as investors fretted over record low wage growth data and the growing threat of US political risks. There were no obvious catalysts for the heavy falls in the share prices of the four major lenders on Wednesday, aside from the continued fallout from the planned banking levy announced in last week’s federal budget. Losses ranged from 1.3 per cent in ANZ Banking Group to 2.3 per cent in Westpac.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

The graphic shows the market roundup for Wednesday 17th May (ack: AFR.com)

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