The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) rocketed higher on Tuesday morning, but its gains quickly disintegrated as investors turned cautious. The local bourse is likely to continue sliding on Wednesday, dragged down by shares across the resources sector.

Here’s a quick recap:

  • FTSE 100 (UK): down 0.53%
  • DAX (Germany): down 0.43%
  • CAC 40 (France): down 1.19%
  • Dow Jones (USA): down 1.41%
  • NASDAQ (USA): down 1.09%

Resources shares are likely to attract plenty of attention today after heavy falls in commodity prices overnight.

Iron ore and oil fared particularly poorly, shedding between 2% and 3%. That’s likely to weigh on shares of businesses such as Santos Ltd (ASX: STO), Woodside Petroleum Limited (ASX: WPL) and Liquefied Natural Gas Ltd (ASX: LNG).

BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) could come under pressure as well. The pair’s London-listed shares dropped 1% and 0.2% last night, respectively.

Gold miners could also feel the heat today. The spot gold price fell another 0.7% and is fetching just US$1,318 an ounce. That may not bode well for St Barbara Ltd (ASX: SBM) or Newcrest Mining Limited (ASX: NCM) today.

Elsewhere, JB Hi-Fi Limited (ASX: JBH) will remain in a trading halt as it raises capital to acquire The Good Guys.

BigAir Group Limited (ASX: BGL) will also be in focus after Superloop Ltd (ASX: SLC) announced it would acquire the business. The implied all scrip offer price is $1.13, which represents a 34.5% premium to yesterday’s closing price.

Lithium miner Galaxy Resources Limited (ASX: GXY) released its half-year results after the market closed yesterday, which investors in the sector will likely pour over.

Banking group CYBG PLC CDI 1:1 (ASX: CYB), or Clydesdale and Yorkshire Bank, said it is targeting roughly £100 million ($177 million) in cost reductions by 2019.

And Hills Ltd (ASX: HIL) could receive some attention after its shares gained more than 50% on Tuesday on its plans to merge its Hills Health Solutions business with Lincor, Inc.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.