US stocks fell on Monday night and the ASX followed that lead in Tuesday trade.

Then Wall Street bounced back, but local stocks still have the blues as the ASX 200 finished with a 0.58% fall on Wednesday.

The big end of town was dragged lower by banking stocks, as the ASX Financials index fell by 0.88%.

Stocks in the Energy sector — this month’s best performer — held their ground, while the major miners struggled for traction.

Futures markets for US stocks have opened and the S&P500 is pointing lower in Asian trade, as global bond yields continue to edge higher.

BIG CAP WINNERS

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$4.8bn coal producer Yancoal Ltd (ASX:YAL) is up more than 65% since September 20, and the stock rose strongly again today on no news. (Addendum: Thermal coal rose HOW MUCH overnight?).

Whitehaven Coal (ASX:WHC) was also on today’s winner’s list, as was oil & gas major Santos (ASX:STO) after its joint venture partner, Tamboran (ASX:TBN) provided a drilling update for its gas exploration project in the Beetaloo shale sub-basin in the Northern Territory.

Among stocks with news, construction materials company Maas Holdings (ASX:MGH) rose after confirming that it raised $15.23m from its recent share purchase plan, with most of the funding provided by sophisticated investors who acquired stock under a binding shortfall agreement.

And a day after leading big tech stocks lower with a fall of more than 5%, BNPL leader Afterpay (ASX:APT) rallied back with a 3% gain today.

BIG CAP LOSERS

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Large cap falls were led by the A2 Milk Company (ASX:A2M), which announced this morning it’s the defendant in a class action lawsuit brought by law firm Slater & Gordon in the Supreme Court of Victoria.

In response, A2M said it considers “that it has at all times complied with its disclosure obligations, denies any liability and will vigorously defend the proceedings”.

Volatility was the order of the day for travel stocks (which incidentally have been climbing strongly in recent weeks), as both Flight Centre (ASX:FLT) and WebJet (ASX:WEB) sold off by more than 5%.