Summary

• The ASX 200 has fallen by as much as 182.8 points, or 3 per cent, to 5959.6 on Thursday
• The heavyweight financials were dragging by 4.8 per cent at 2pm as all sectors bled red 
• Both S&P 500 and the Dow fell after US Fed chair Jerome Powell forecast a long and slow recovery for the US economy. Gains for Apple and Microsoft helped the NASDAQ close at a record high
• The ASX was underperforming Asian markets, which were also subdued. US futures are pointing to more losses on Wall Street tonight.