( dpa ) - Australian stocks fell 2.3 per cent in early trading Monday on fears of a recession in the United States.
After the opening bell the All Ordinaries index gave up 132 points, or 2.3 per cent, to 5,675.
The market has fallen for 11 consecutive days - the longest losing streak in more than 20 years.
Giant miner BHP-Billiton was down over 1.7 per cent and its resources rival Rio Tinto lost 4.1 per cent. National Australia Bank, the nation's biggest, was 2.4 per cent.
Analysts said they expected bargain hunters to lift the index in the final hour of trading but predicted the slide would still be around 2 per cent.