Financial and resource stocks hit S&P/ASX 200

ASX finishes at lowest level in two weeks. Financial stocks including CBA and resource companies sold off. After market close, BHP and Woodside confirm $40bn petroleum merger. BHP to pay record dividend.

World markets felt the impact of a slowdown in China’s economy. Picture: AAP

Welcome to the Trading Day blog for Tuesday, August 17. The ASX 200 closed 0.9 per cent lower at a two-week low. It was the worst trading session in two months. CBA trading ex-dividend, pushing its shares down 3.5 per cent. Global markets felt the impact of a slowdown in China’s economy.

Wall Street pared earlier losses. The S&P 500 and Dow both rose 0.3 per cent, while the Nasdaq lost 0.2 per cent. European and Asian markets fell.

Santos profit turnaround. Charter Hall REIT maintains earnings. Breville, Sims back to profit. Westpac's board said excess capital and franking credits meant it would consider returning capital to investors. RBA says it "will act" if pandemic hits economy. Dexus profit lifts. ARB looking to boost product range.

Originally published as Financial and resource stocks hit S&P/ASX 200