After another steady move higher in August, markets have come off the boil as the ASX 200 posted its second straight daily fall to start the week.

The index followed up yesterday’s 0.6% fall with a 0.8% drop, with consistent declines across all the major sectors.

Leading the laggards was the ASX 200 Financials index which fell by around 1.65%, dragged lower by Commonwealth Bank (ASX:CBA) which posted its fourth straight day of losses to fall back below $100.

BIG CAP WINNERS

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Among stocks with news, gains were led by insurance brokerage firm Steadfast Group (ASX:SDF), which announced the completion of a successful institutional share placement to raise $200m.

Online real estate marketplace Domain Holdings (ASX:DHG) led the way in reporting season, finishing 4.3% higher after posting a 66% increase in post tax profits to $34.3m.

And another insurance player, PSC Insurance (ASX:PSI) also gained after announcing it’s entered into a binding agreement to acquire the insurance broking network of Alliance Insurance for $24.5m. PSI said it expects the transaction to contribute accretive EBITDA of $3m within the first 12 months.

BIG CAP LOSERS

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Falls were led by $1.6bn BNPL player Sezzle (ASX:SZL), which slumped more than 12% after releasing its quarterly Form 10-Q trading update to the US Securities & Exchange Commission.

The company reported a quarterly pre-tax loss of US$19m on revenues of US$27.845m, with expenses included a provision for uncollectible accounts of $13.847m.