Wall Street lost ground as a wave of bad loan fears hit US banks, knocking confidence in the financial sector and pulling markets lower. Regional lenders Zions Bancorp and Western Alliance were at the centre of the sell-off, each tumbling by more than 10% after revealing losses tied to fraudulent commercial loans. In Europe, markets were steadier after France’s prime minister survived two confidence votes, and closer to home, Aussie shares are tipped to pull back from record highs after yesterday’s strong run. Iron ore has dropped to six-week lows, gold has hit new all-time highs, and the Aussie dollar remains under 65 US cents. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

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