ASX sags as deflation and border closures sap sentiment

Summary

• Queensland goverment declares Sydney a coronavirus 'hotspot' and seals border again
• Inflation dropped by a record 2% in the June quarter, turning negative for the first time since 1997
• Bank stocks rise after regulator eases dividend rules
• Gold remains elevated at $US1951 an ounce, though has softened from Tuesday's all-time high of $US1980