Steven Daghlian and Banking Sector

financial stocks: Energy and mining stocks were the other major sectors affected."There are generally rising concerns about the health of the banking sector globally, according to Nine News Australia. That sentiment has rubbed off in our markets too," Comm Sec market analyst Steven Daghlian said. The banking sector, which carries maximum weightage on the ASX, led the losses on Tuesday, as shares of Australia Big Four banks joined a global selloff in financial stocks, following sharp overnight falls in shares of European and US banks. Financial stocks, which comprise nearly half of the main index by weightage, were the worst performers on Tuesday. Westpac hit a fresh 52-week low of $28.71 to close $1.56 or 5.1 per cent lower, while ANZ lost 94 cents or 4.0 per cent to $22.79. Commonwealth Bank tumbled $3.51, or 4.6 per cent, to $72.87, while National Australia Bank slid $1.25, or 4.8 per cent, to $24.90. (news.financializer.com). As reported in the news.