Australian stocks slid 5 per cent Tuesday
on news that the US Congress had voted down the long-awaited bail-out package
for Wall Street, dpa reported.
The ASX200 slipped 242 points, or 5 per cent, in the first 30 minutes of trading to 4,564.
Shares fell across the board, with resources stocks worst hit because of fears that the crisis will affect the wider economy and crimp global growth.