Business News
Australian stocks open sharply lower
Oct 7, 2008, 23:38 GMT
Sydney - Australian stocks tumbled 3.5 per cent on the opening bell Wednesday in the wake of a further steep fall on Wall Street.
In early trading the ASX 200 dropped 166 points, or 3.5 per cent, to 4,452.
The Australian dollar fell again in early trade, dropping 2 US cents to 70 US cents as the flight out of commodities-linked currencies continues. The Aussie dollar was sold off along with the South African rand, the Canadian dollar and the New Zealand dollar.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
