Market Update: The S&P/ASX 200 fell 0.8% to 5,230pts amid continuous worries on the timing of the US Federal Reserve to reduce its stimulus after the release...

Market Update: The S&P/ASX 200 fell 0.8% to 5,230pts amid continuous worries on the timing of the US Federal Reserve to reduce its stimulus after the release of stronger-than-expected employment data overnight. Financials lead the market down with all major banks lower between 0.9% to 1.7%. Resources were up for a second day after commodity prices rose last night. BHP added 0.6% while RIO rose 0.1%. Qantas plummeted 11.6% after announcing a profit warning and job cuts. The AUD dropped below US$0.90 last night but rebounded to be currently trading at US$0.9038. The SPI was down 0.8% at 5,236pts on the Sydney Futures Exchange.