The ASX200 has been down more than 2.2% to around 7,939 points as the market pulls back from yesterday’s record high – pushing us back down below the 8000 level. Wall Street fell sharply overnight, with anxiety being fed by the belief the US Fed’s delay to cutting rates is detrimental to the economy. The US drawback came after manufacturing data dropped to its lowest level since November, pointing to a softening of the world’s largest economy. A rate cut by the Bank of England and potential rate cuts in the US also further undermined bond returns. It’s a bloodbath today, as all sectors have lo…