S&P/ASX 200 snaps seven-day winning streak with 3% fall

S&P/ASX 200 (INDEXASX:XJO) dropped 3.05% today to 5960.6 wiping more than $50 billion from the index’s market cap as Asian markets fell and US futures also traded in the red. The ASX 200 snapped its 7-session winning streak with its heaviest decline since May 1. Every sector finished in the red, but the market was dragged down most by the financials. Losses from the big four banks weighed most heavily, with Westpac Banking Corp (ASX:WBC) and ANZ (ASX:ANZ) each finishing 6% lower. Top gainers on the ASX today include Bellevue Gold Ltd (ASX:BGL) (+13.14%), Titanium Sands Ltd (ASX:TSL) (+9.72%), Perseus Mining Limited (ASX:PRU) (+8.30%) and European Lithium Ltd (ASX:EUR) (+7.55%). Proactive news headlines: Piedmont Lithium raises A$29 million to progress Piedmont Lithium Project development Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) has raised around A$29 million to support the development of its Piedmont Lithium Project in North Carolina, USA. Proceeds will be used to continue development of the company’s Piedmont Lithium Project, including a definitive feasibility study, test-work, permitting, ongoing land consolidation and for general corporate purchases. MMJ Group investee Embark Health enters co-production agreement with Volero MMJ Group Holdings Ltd’s (ASX:MMJ) investment Embark Health has entered into a definitive agreement to develop, produce and distribute Volero’s Flyte cannabis 2.0 products for the Canadian market. The Co-Production Agreement provides for the production and distribution of vape pens through 2021. Blackstone Minerals intersects 9.15-metre-wide zone of nickel sulphides at Ban Chang Blackstone Minerals Ltd (ASX:BSX) has intersected massive sulphide in three maiden drill holes at Ban Chang, part of its Ta Khoa Nickel-PGE Project in Vietnam, including a 9.15-metre-wide zone of sulphide vein mineralisation. The 9.15-metre intersection in drill hole BC20-03 from 57.05 metres included 4.6 metres of massive sulphide (MSV) and semi-massive sulphide veins (SMSV). Platina Resources acquiring Challa Gold Project in prolific WA gold province Platina Resources Limited (ASX:PGM) has entered into a conditional deal to buy the Challa Gold Project, between the Mt Magnet and Sandstone gold districts in Western Australia, in exchange for shares and a royalty. The project includes two high-quality exploration licence applications covering 293 square kilometres. Arafura Resources receives strong domestic and offshore placement support for $7 million Arafura Resources Ltd (ASX:ARU) has received firm commitments to raise $7 million through a share placement to institutional and professional investors providing a strong endorsement of the Nolans NdPr Project. The placement, which was completed at an issue price of 6.2 cents per share, received strong support from both domestic and offshore investors. Funds raised will be used to undertake early engineering works at the Nolans Neodymium-Praseodymium (NdPr) Project in the Northern Territory. Medlab Clinical's NanoCBD available in Australia with first SAS scheme patient supplied Medlab Clinical Ltd's (ASX:MDC) newest cannabinoid formulation, NanoCBD, is now available in Australia, with the first patient supplied under the Australian Government’s Special Access Scheme (SAS). The drug is intended for the treatment of patients with chemotherapy-induced nausea and vomiting (CINV), and like NanaBis™, shares the same proprietary delivery platform, NanoCelle™. Venus Metals boosts cash balance through two new transactions Venus Metals Corporation Limited (ASX:VMC) will boost its cash balance through two new transactions, including the sale of Poona lithium-caesium-tantalum (LCT) project in WA’s Murchison region to eMetals Ltd (ASX:EMT). The company will also receive funds from the Youanmi joint venture project after partner Rox Resources Limited (ASX:RXL) elected to acquire an additional 20% Interest, lifting its stake to 70%. Walkabout Resources adds Amani Gold Project to African portfolio Walkabout Resources Ltd (ASX:WKT) has secured exploration tenure over a highly prospective, underexplored gold region at the Amani Gold Project in southwest Tanzania. The project has been a focus for exploration since 2016 when new geological mapping and fieldwork confirmed the hard rock gold potential of the area.