S&P/ASX 200 slips 0.66% as inflation fears grip global markets

S&P/ASX 200 (INDEXASX:XJO) fell 0.66% to 7050 points by 12.50 pm, with the banks, materials, and property stocks weighing heavily. Investors have grown worried about the threat of inflation, with the US Dow Jones Industrial Average falling 1.4% on Tuesday, its worst day since February. Australian technology stocks were surprisingly resilient, up by 2.03% collectively as the sector bounced back from its worst session in nearly three months on Tuesday. Pushpay profit doubles Faith-based services provider Pushpay’s (ASX:PPH) shares were higher after announcing a 39% growth in revenue to US$181 million for the year ending March 31 while net profit nearly doubled to US$31.2 million. Pushpay offers cloud-based mobile donation payment systems to the US religious sector, charging the churches a fee for the service. The company had upgraded guidance for its underlying earnings three times during the financial year. Top gainers Today’s top gainers on the ASX include Aeris Resources Ltd (ASX:AIS) (+15.45%), Andromeda Metals Ltd (ASX:AND) (+17.14%), Calima Energy Ltd (ASX:CE1) (+12.50%), Cirralto Ltd (ASX:CRO) (+12.50%), FYI Resources Ltd (ASX:FYI) (+13.04%) and Yandal Resources Ltd (ASX:YRL) (+10.40%). Proactive news headlines: CardieX shares rise on the back of new US patent for blood pressure measurement CardieX Ltd (ASX:CDX) subsidiary ATCOR has been granted a new patent by the US Patent and Trademark Office (USPTO) for the intellectual property (IP) surrounding its patented SphygmoCor® technology. Noxopharm’s NOXCOVID trial achieves full enrolment Noxopharm Ltd (ASX:NOX) has fully enrolled Part 2 of the NOXCOVID study looking into the potential of Veyonda® to block the cytokine release syndrome (CRS) or ‘cytokine storm’ and improve the outcomes in patients hospitalised with COVID-19. Mako Gold completes helicopter geophysical survey to plan RC drilling at Korhogo Gold Project Mako Gold Ltd (ASX:MKG) has completed a helicopter geophysical survey on Korhogo Project in Côte d’Ivoire, collecting magnetic and radiometric data on the Korhogo Nord and Ouangolodougou permits to assist in planning a reverse circulation drilling program. Danakali's A$20.3 million placement validates world-class Colluli Potash Project in Eritrea Danakali Ltd (ASX:DNK) (LON:DNK) (OTCMKTS:SBMSF) (FRA:SO3) has completed a A$20.3 million placement to support the early works program at its Colluli Potash Project in Eritrea, East Africa. Firefinch hits 21 metres at 13.45 g/t gold revealing new discovery at K3 Prospect of Morila project in Mali Firefinch Ltd (ASX:FFX) (FRA:N9F) (OTCMKTS:EEYMF) is higher after discovering a new, very high-grade zone 250 metres south of K3 prospect within its 100%-owned Finkola permit - part of the Massigui Project which adjoins the Morila Gold Mine tenure in Mali. Matador Mining has early power-auger drilling success at Cape Ray in Canada with sulphides observed Matador Mining Ltd (ASX:MZZ) (OTCMKTS:MZZMF) (FRA:MA3) has had early success in its 2021 power-auger drilling program at the 100%-owned Cape Ray Gold Project in Newfoundland, Canada, with sulphide-bearing quartz veins observed. Blaze International acquires tenure in Eeraheedy Basin Blaze International Limited (ASX:BLZ) is acquiring Hammerhead Exploration Pty Ltd and Iconic Minerals Pty Ltd who collectively own six tenement applications in the Earaheedy Basin of Western Australia. Resources & Energy Group completes drilling at Mount Mackenzie Gold-Silver Project Resources & Energy Group Ltd (ASX:REZ) has intersected two primary zones of primary mineralisation each up to 150 metres wide while completing drilling at the Mount Mackenzie Gold-Silver Project in central Queensland.