Around $3.5bn evaporated from the listed property trust sector yesterday.
With the exception of Colonial First State Retail Property Trust, all top property trusts dropped to new lows.
The benchmark S&P/ASX 200 A-REITs index dropped 3.3 per cent to close at 546.9 points.
'I honestly don't know why the sector is down. US REITs were down just 1% on Friday,' one property analyst said. All the sector's leaders, including Westfield Group, Stockland and Mirvac Property Group, lost on average by 3.6% of their value, he said.