As it happened: ASX drops 0.7% as banks and materials drag

Summary

• Futures are pointing to mild gains on Wall Street tonight, but declines on European markets
• Afterpay shares surge past $100 after striking bank account deal with Westpac, info tech sector rises 2.1 per cent
• ASX200 closed 0.7 per cent lower at 6184.6 points, a decline of $14 billion
• Aussie dollar drops to three week low of US70.38c