The Australian share market fell more than 3 per cent after trading opened this morning, before falling further to be 4.3 per cent lower. Australian share market fall has followed the current trend in Wall Street.
The ASX 200 dipped below 4000 twice, in a flurry of selling by nervous investors.
The All Ords also fell below the 4000 mark, down 131 points within the first 10 minutes.
A stream of bad data from the US - earnings are down, unemployment is rising, house prices falling and indebted consumers have stopped spending - shows the market turmoil is trickling into "the real economy", and it looks like a long recession is unavoidable.more....
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