Local shares fell today, dragged down by falls on Wall Street overnight and a plunging gold price.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.6% to 5,452 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.6% to 5,537 points
  • AUD/USD at US 76.34 cents
  • Iron Ore at US$55.86 a tonne, according to the Metal Bulletin
  • Gold at US$1,274.17 an ounce
  • Brent oil at US$50.80 a barrel

There is no tip-toing around the pain felt by gold investors today.

After gold prices slipped more than 3% overnight, OceanaGold Corporation (ASX: OGC) plunged 13.5%, EVOLUTION FPO (ASX: EVN) fell 7.9%, Northern Star Resources Ltd (ASX: NST) dropped 10% and Newcrest Mining Limited (ASX: NCM) lost 5.1%.

The losses were by no means limited to those stocks from the sector.

Telecommunications giant TPG Telecom Ltd (ASX: TPM) fell another 2.2% today, with Vocus Communications Limited (ASX: VOC) also down 2.6%.

Shares of Telstra Corporation Ltd (ASX: TLS) fell 1%, making it one of the worse performing blue chips for the day, while Rio Tinto Limited (ASX: RIO) fell 1.1%.

Aged care operators Japara Healthcare Ltd (ASX: JHC) and Regis Healthcare Ltd (ASX: REG) were also slammed 7.7% and 4.8%. The heavy declines came after Estia Health Ltd (ASX: EHE) entered a trading halt as it prepares what could be a disappointing first quarter trading update.

Whitehaven Coal Limited (ASX: WHC), on the other hand, gained 0.8%. Ansell Limited (ASX: ANN) also rose 2.2% while QBE Insurance Group Ltd (ASX: QBE) lifted 3.4%.

Here are Wednesday’s top stories:

  1. Why these gold shares are getting crushed today
  2. TPG Telecom Ltd share price sinks again, should you be selling now?
  3. Should you buy any telco shares right now?
  4. Estia Health Ltd in trading halt and it doesn’t look good
  5. Is Medibank Private Ltd a bargain after dropping 27% from its high?
  6. Google releases new Pixel phones

Discover How 1 Man Made 100x His Money After 50

Few know, that as Warren Buffett blew out the candles on his 50th birthday cake, he had just 1% of his current fortune. Think about it: At an age when most give up hope, Buffett was just getting started on the remaining 99% of his fortune. Goes to show you that it's never too late for you to potentially get rich. Which is why we've gathered the strategies we learned from Buffett, distilled them down to 11 simple lessons, and put it in an exclusive report for you to claim. Just click here to learn more about this handy investing guide.

HOT OFF THE PRESSES: Motley Fool’s #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Alphabet (A shares) and Alphabet (C shares). 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.