https://www.marketindex.com.au/news/what-the-hell-just-happened-to-cbaWhat the hell just happened to CBA?
Commonwealth Bank crashed 10.4%
in its worst session since listing in 1992, as a soft Q3 result collided with sweeping Budget tax reforms.
Kerry Sun
Content Strategist
Wed 13 May 2026, 16:44 AEST (49m ago)
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5 min read
KEY POINTS
CBA closed down 10.4% at $153.67, marking its worst single-day decline since listing in 1991 and surpassing routs seen during the GFC, dot-com bust, and pandemic.
Q3 cash NPAT came in ~$2.7 billion, 2% below Citi's forecast, with personal loan arrears over 90 days hitting 1.71%, the highest reading since the pandemic.
Budget reforms scrapping negative gearing on established property and the 50% CGT discount from 1 July 2027 hit CBA hardest, as it holds Australia's largest investor loan book.
It doesn't seem possible for the words Commonwealth Bank (ASX: CBA) and "down 10%" to fit in one sentence, but they just did.
CBA recorded its worst session in the 34 years that it's been listed, narrowly eclipsing the one-day routs of the pandemic, GFC and dot-com bust. The stock opened 5.0% lower on Wednesday and spent the whole day trending lower, closing the session down 10.4% to $153.67.
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