ASX 200 drops 1.8pc, wipes $41bn off market cap; investors dump CSL, CBA, Woodside

ASX has entered a technical 'correction' as investors dump stocks including CSL, CBA and Woodside. Evolution Mining and Silver Lake Resources were also battered, dropping more than 10 per cent.

Investors are set to stocks recover after Tuesday’s bloodbath. Picture: NCA NewsWire/Joel Carrett

Welcome to the Trading Day blog for Thursday, January 27. ASX enters technical 'correction', dropping 1.8 per cent as investors dump CSL, CBA, Woodside. Evolution Mining and Silver Lake Resources were also battered, falling more than 10 per cent.

The S&P/ASX 200 closed 1.8 per cent lower at 6838.3 after dropping 2.5 per cent to a 10-month low in early afternoon trading.

The Dow Jones Industrial Average finished down 0.4 per cent, the S&P 500 by 0.1 per cent and tech-heavy Nasdaq added 2.82 points.

Iron ore has increased by 0.2 per cent to $US138.10 per tonne.

Global oil prices rose 2 per cent to seven-year highs as investors cited tight global oil supplies and Ukraine-Russian political tensions as factors supporting prices.  The Brent crude price rose by 2 per cent to $US89.96 a barrel. The US Nymex crude price climbed 2 per cent to $US87.35 a barrel.