Australian stocks track Wall Street down
Investors fled Australian stocks at the opening of trade
Thursday, in response to Wall Street registering its biggest one-day percentage
loss in 20 years, dpa reported.
In early trading in Sydney, the ASX 200 lost 232 points, or 3.6 per cent, to 4,067. The negative sentiment carried over to the local currency, with the Australian dollar slumping to 65 US cents.
The US market lost almost 8 per cent Wednesday on fears that the financial turmoil would worsen a broader economic slowdown.