Australian stocks slide on US rescue delay

Business Materials 30 September 2008 06:35 (UTC +04:00)

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.