Market Update: Following a pullback in the US equity markets last night the S&P/ASX 200 was down 0.6% to 5,347 points

Market Update: Following a pullback in the US equity markets last night the S&P/ASX 200 was down 0.6% to 5,347 points. Information technology and resources led the broad base decline. BHP and RIO were down 1.6% and 1.2% respectively. Gold stocks were suffering steeper losses as spot gold continued to slide. Evolution Mining and Northern Star Resources both fell more than 5.1%. Financials were mixed with CBA up 0.1% while the other three major banks were 0.1% lower. The AUD continued to strengthen and was slightly higher at USD 0.9239. The SPI was down 0.5% at 5,345 points on the Sydney Futures Exchange.