Fears of a market meltdown subsided early today as the ASX 200 fell by just 0.5%, lifted by the bounce back in US stock futures in Asian trading.

A rush of US earnings reports in the next few days, along with the two-day Federal Reserve meeting starting Tuesday, weigh heavily on investors’ minds.

Volatility in US treasury yields ahead of the Fed meeting points to investors’ uncertainty over the speed at which the Fed will hike rates.

Last week, the benchmark 10 year US bond yield  swung from 1.76% to 1.83%, and back again to 1.76%.

Tech and Mining were the worst performing local sectors today, down by 1.5% each.

Real Estate was the best performer, up by 1.5% after the biggest stock in the index Goodman Group (ASX:GMG) rose by over 4% on no announcement.

In corporate news, Fortescue Metals (ASX:FMG) has acquired a battery tech company linked to the Williams Formula E championship. The deal saw FMG taking over the UK-based Williams Advanced Engineering in a deal worth $222m.

BIG CAP WINNERS

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There were only a few stocks that gained on the back of announcements.

Telco company Uniti Group (ASX:UWL) says that it has been approached by more than one company (all un-named), which have indicated potential interest in acquiring Uniti.

Corporate Travel (ASX:CTD), REA Group (ASX:REA), and Fisher & Pykel (ASX:FPH)  all rose on no news.

BIG CAP LOSERS

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Regis Resources (ASX:RRL)  was down 14% after the miner revised its FY22 guidance.

Regis says an incident at its Rosemont mine meant that gold production for FY22 will now come in between 420k – 475k ounces, compared to the previous estimate of 460k – 515k.

Telix Pharma (ASX:TLX) was down around 11% after announcing a $175 million placement and a $25 million share purchase plan.

The company said the funds will be used to execute on its late- stage clinical product pipeline, and advance multiple programs towards commercialisation particularly the ProstACT (prostate cancer therapy) clinical program.