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Has Monday’s trade set the scene for a market tumble?

The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has posted a fall of 1.28% today despite US markets ending higher last week.

On Friday the Dow Jones closed up 0.27%, while the S&P 500 rose 0.37%, following the release of data which pointed towards higher housing starts in April.

The sharp falls on the local bourse today will have investors wondering if we are set to experience a bad week. Most of the major banks and major miners fell over 1%, with the weakening iron ore price and slowing Chinese economy front of mind with investors.

All sectors fell with only the health care, property, utilities and telecommunication services limiting their losses to less than 1%; all other sectors fell more than 1%.

Here are the top five best performing stocks in the index today:

  • Goodman Fielder Ltd (ASX: GFF) rallied 3.8% to 69 cents
  • IOOF Holdings Limited (ASX: IFL) climbed 2.4% to $8.45
  • Western Areas Ltd (ASX: WSA) added 2.2% to $4.24
  • Fairfax Media Limited (ASX: FXJ) rose 1% to $1.05
  • DUET Group (ASX: DUE) gained 0.9% to $2.25

These stocks were the losers on the day:

  • UGL Limited (ASX: UGL) slumped 9.7% to $6.86
  • Bradken Limited (ASX: BKN) dropped 7.7% to $3.62
  • Paladin Energy Ltd (ASX: PDN) lost 5.9% to 40 cents
  • M2 Group Ltd (ASX: MTU) fell 4.9% to $5.80
  • Fortescue Metals Group Limited (ASX: FMG) declined 4.6% to $4.37

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Motley Fool contributor Tim McArthur owns shares in Goodman Fielder Ltd.

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