Banks dragging equities lower as eyes turn to RBA - a podcast by ausbiz

The S&P/ASX200 closed lower Friday, dropping 107 points or 1.4% to 7,324 dragged lower by a late afternoon surge in bond yields, the index crossing below its 50-day moving average. The big banks capitulated and the rest of the market followed, the Top 200 stocks have no shed 1.2% over the last five days, and now sits more than 4% below its 12 month high. The bottom performing stocks on Friday, Unibail-Rodamco-Westfield (URW) and Pointsbet Holdings (PBH) down 6% and 5.2% respectively. 

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