Look out below. The day after the Budget saw CBA issue its most recent trading update for the previous quarter. Bad news wrapped in bad vibes meant that the stock crashed 10.4 per cent in a single day, wiping billions from the company and dragging the market down with it.

The news gets worse when you zoom out even further. Over the last five days, CBA is down over 13 per cent and down 16 per cent on the previous month.

CBA’s trading update revealed that net profit after tax for its third quarter is up 4 per cent year on year wasn’t enough to cushion the blow that some of its financials are starting to stray beyond where the market wants them. The result was around 2 per cent below analyst consensus.

A 2…