Market Wrap: Widespread selloff ends ASX's dream run

The ASX has fallen into reverse today, ending what has been a dream run for local investors.

Here's a quick recap:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.9% to 5226 points
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.9% to 5277 points
• AUD/USD at US 71.95 cents
• Iron Ore at US$44.75 a tonne, according to the Metal Bulletin
• Gold at US$1,071.61 an ounce
• Brent oil at US$44.92 a barrel

The ASX climbed in each of its last five sessions, rising a total of 5.5% in a rally driven predominantly by the big four banks and various other blue chip stocks. That unfortunately came to an end today in what was a widespread selloff.

Each of the major banks fell today. National Australia Bank Ltd. (ASX: NAB) was hit the hardest, losing 1.3%, while Commonwealth Bank of Australia (ASX: CBA) also lost 1%.

BHP Billiton Limited's (ASX: BHP) woes continued with the shares losing another 1.8% after hitting a fresh seven-year low earlier in the session. Fellow miners Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) lost 3.2% and 1.5%, while South32 Ltd (ASX: S32) ended the day 2.5% lower.

Woolworths Limited (ASX: WOW) also lost some of Monday's gains, falling 2.4%. Its rival Wesfarmers Ltd (ASX: WES) suffered a more respectable loss of 0.6%.

Mesoblast limited (ASX: MSB) and Slater & Gordon Limited (ASX: SGH) were the two worst performing companies, followed closely by Healthscope Ltd (ASX: HSO). The trio fell 8.1%, 7% and 6.7% respectively.

Here are Tuesday's top stories:

1. Down 6%: Is Slater & Gordon Limited a bargain at today's share price?
2. Why BHP Billiton's dividend won't last
3. Is the party over for the Healthscope Ltd and Nine Entertainment Co Holdings Ltd share price?
4. Why the A2 MILK FPO NZ share price is soaring today
5. Is it all downhill for the Woolworths Limited share price?
6. Should you buy Qantas Airways Limited at this share price?