There has been carnage as the ASX200 dropped nearly 3% today, and the bourse is down 5% total in the worst two days in two years. Mounting fears of a US recession have sparked nervousness, and the Australian market has followed Wall Street lower. All sectors have red lights flashing, led by IT down more than 5%, followed closely by Financials 4% and Real Estate just under 4%. Company NewsCommonwealth Bank (ASX:CBA) has been down 3.6% and is leading the big 4 lower. CBA has retreated more than 7% from its record high last week and has been swapping hands at $127.68. Magnetic Resources (ASX:MAU)…