Financial sector drops after Westpac results, and Oil prices plummet

MARKET WRAP:

• ASX200: down 1 per cent, or 80 points to 8157
• GOLD: up to $3267 US an ounce
• BITCOIN: one bitcoin will buy you $146 thousand dollars.
• It was the end of a 7 day winning streak as the ASX 200 finished down 1 per cent, or 80 points to 8157.
• All 11 sectors finished in the red… With Financials and Energy copping the worst of it. 
• Westpac shares took a hit - down 3% - which triggered selling across the sector… CBA slid 1.6% and NAB dropped 1.7%
• And it’s no better for the energy sector… the price of oil has dropped to $US60 a barrel after OPEC announced a dramatic escalation in output. Both Woodside and Santos dropped  4%

CURRENCY UPDATE:

• AUD/USD: 64.81
• AUD/GBP: 49 pence
• AUD/EUR: 57 euro cents
• AUD/JPY: 93 yen
• AUD/NZD: 1.08 Dollars