Banks smashed in ASX fall as Lowe doubles down on rate hikes; 'Twiggy' Forrest slams climate-denying politicians — as it happened

For a company that just posted a record half-year profit, the market didn't look kindly on CBA, or the banking sector as a whole. Commonwealth Bank shares ended the day 5.7 per cent lower at $103, with Westpac off 4.3 per cent, NAB off 4.1 per cent and ANZ down 3.8 per cent. It seems fears that CBA's net interest margin may have peaked, albeit at a reasonably healthy 2.1 per cent in the December half, were behind the sell-off. After being walloped for two days in a row on shock news at the start of this week of falling revenue and a potential $1.6 billion write-down, Star Entertainment bounced back strongly today, although it's still down more than 20 per cent compared to where it was at the end of last week. Five biggest falls: BrainChip Holdings: -13.6% to $0.51 BrainChip Holdings: -13.6% to $0.51 Corporate Travel Management: -8.7% to $15.75 Corporate Travel Management: -8.7% to $15.75 Treasury Wine Estates: -6.9% to $13.34 Treasury Wine Estates: -6.9% to $13.34 Sayona Mining:-6.5% to $0.215 Sayona Mining:-6.5% to $0.215 Commonwealth Bank: -5.7% to $103.00 Five biggest gains: Star Entertainment: +14.4% to $1.47 Star Entertainment: +14.4% to $1.47 GUD Holdings: +8.1% to $8.94 GUD Holdings: +8.1% to $8.94 Cochlear: +7.8% to $225.28 Cochlear: +7.8% to $225.28 Magellan Financial Group: +7.1% to $9.45 Magellan Financial Group: +7.1% to $9.45 New Hope Corporation: +5.9% to $5.73 Thanks for coming along for a pretty wild ride today with me, Rhiana, Gareth and Sue.