Welcome to your five-minute recap of the trading day and how the experts saw it.
The numbers:The ASX 200 has closed in the red for a seventh consecutive session,closing 0.6 per cent lower at 6,433.4 points,with energy and mining stocks the biggest drag on the market.
Mining giants,BHP and Rio Tinto,both slumped by more than 5 per cent as iron ore prices dropped. But it was Fortescue that posted the biggest fall among the major miners,declining by 8.6 per cent,as the materials sector shed almost 5 per cent during the session.
Energy stocks were the worst-performing sector as oil prices edged lower,with Woodside 4.9 per cent lower and Santos dropping by 6 per cent.
However,the consumer discretionary and real estate sectors had positive days after struggling over the past month,lifting by 2.8 per cent and 3.5 per cent respectively.
The lifters:PointsBet Holdings 18.6%,Appen Limited 9.7%,Pinnacle Investment Management Group 7.7%
The laggards:Paladin Energy -13.1%,Champion Iron -11.9%,De Grey Mining -10.2%
The lowdown:The S&P/ASX 200 index fell almost 1 per cent by midday,after a rocky start,but recouped some of its losses by close.
Resource stocks copped the heaviest hit on the back of a near 7 per cent fall in West Texas Intermediate (WTI) crude oil on Friday,with the price hovering near $US109.38 a barrel. Chinese iron ore futures also had a similar fall,declining by 9.1 per cent early in the session.
Shaw and Partners senior investment advisor Craig Sidney said recession concerns were partly driving a move away from resources stocks,as investors considered whether high demand for oil and iron ore would remain in a downturn.