Commonwealth Bank shares slump record 10.4% as budget weighs on lenders | Finance Report | ABC NEWS

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The federal budget weighed on banks as analysts warned changes to capital gains tax and negative gearing would cut lending for investment properties. Commonwealth Bank shares suffered their largest one-day fall on record, closing 10.4% lower. Meanwhile, the price of oil fell slightly after a lack of fanfare from US President Donald Trump about the war in Iran. Read more here: Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia #ABCBusiness