Red-dy for the long weekend 🍷

Splat! That was an unpleasant end to the week, mirroring the ugly price action on Wall Street overnight. Record highs will have to wait for another day. Finding green on screen was as difficult as finding hen’s teeth with most sectors finishing deep in the red. Materials skidded 3.3% while energy and information technology shed 2.5% apiece. Megaport slumped another 11% after tanking over 20% Thursday. It was not a good day for non-profitable companies with Paladin, Pointsbet, Square and Zip slumping more 4% or more. Oz Minerals lost 6.6% following a disappointing quarterly update. Endeavor topped the leader board, adding 2.1%. Plenty need a drink following a day like this. Quality names outperformed with CSL, Goodman Group, Coles and Transurban closing higher. The S&P/ASX 200 fell 119.5 points, or 1.57%, to close at 7473.3. For the week it lost 0.67%.

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