S&P/ASX 200 drops 0.91% as investor sentiment fades over US-China tensions

S&P/ASX 200 (INDEXASX:XJO) fell 0.91% to 6039 by 12.42 pm over worsening US-China tensions and a sell-off in Wall Street overnight. Victoria has announced 300 new COVID-19 cases and six deaths, the state's highest number of pandemic deaths in a 24-hour period. New South Wales recorded seven new cases. The US recorded more than 1,100 deaths from COVID-19 for the third day in a row on Thursday, as the outbreak strained hospitals in California, Florida and Texas. Record iron ore exports June preliminary figures from the Australian Bureau of Statistics show that from May to June, exports of iron ore lumps and fines increased by $757 million, or 8%, to $9.92 billion, the highest export value on record. The value of goods imported rose by $1.29 billion or 6% driven by increases in petroleum imports. Top gainers Today’s top gainers on the ASX include Latin Resources Ltd (ASX:LRS) (+16.67%), Ansila Energy NL (ASX:ANA) (+11.11%), Cauldron Energy Ltd (ASX:CXU) (+14.29%), White Rock Minerals Ltd (ASX:WRM) (+20.00%), Archtis Ltd (ASX:AR9) (+20.51%) and Archer Materials Ltd (ASX:AXE) (+9.09%). Proactive news headlines: Horizon Minerals achieves first gold milestone at Boorara Horizon Minerals Ltd (ASX:HRZ) has poured first gold from the first stage of the Boorara Gold Mine, 10 kilometres east of Kalgoorlie-Boulder in the Western Australian Goldfields. Pan Asia Metals launches $6 million IPO ahead of ASX listing Pan Asia Metals Ltd (PAM) has launched its initial public offering (IPO) to raise A$6 million ahead of its listing on the Australian Securities Exchange (ASX). Talisman Mining maiden diamond drilling underway at historic Lucknow Goldfield Talisman Mining Ltd (ASX:TLM) has started its maiden diamond drilling program at the high-grade Lucknow Gold Project in NSW with a second hole underway. Lithium Australia's Soluna JV sells first energy storage solutions into Australian market Lithium Australia NL’s (ASX:LIT) Soluna Australia Pty Ltd joint venture with DLG Energy Co Ltd has achieved first sales and installations for its battery systems. Kin Mining's new drilling results extend Cardinia Hill gold discovery at CGP Kin Mining NL (ASX:KIN) has received new assay results that further extend the Cardinia Hill discovery within the Cardinia Gold Project (CGP) near Leonora in Western Australia and pave the way for resource drilling. Anson Resources accepts oversubscriptions bringing top-up placement funds to A$1.16 million Anson Resources Ltd (ASX:ASN) has accepted oversubscriptions in excess of the originally planned $1 million top-up placement and has firm commitments for an additional $260,000, bringing the total to be raised to $1.16 million before costs. PolarX has drill spinning at Zackly East gold-copper prospect in Alaska PolarX Ltd (ASX:PXX) has started a 3,000-metre drilling program at the high-priority Zackly East gold-copper target of its Alaska Range Project in Alaska.