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The Australian stock exchange opened more than two per cent lower today, after a strong negative lead from Wall Street as uncertainty escalated in global financial markets.
The benchmark S&P/ASX200 was down 110.9 points, or 2.3 per cent to 4,706.8, while the broader All Ordinaries dropped 117.4 points, or 2.41 per cent to 4,757.6.
The finance sector was weaker. Commonwealth Bank of Australia fell 98 cents, or 2.33 per cent to A$41.00, National Australia Bank lost 86 cents, or 3.77 per cent, to A$21.96, while ANZ Banking Group dropped 59 cents, or 3.5 per cent to A$16.28.
Westpac lost 71 cents, or 3.07 per cent, to A$22.44 and its takeover target St George Bank sank 60 cents, or 1.98 per cent, to A$29.74.
Macquarie Group fell A$2.57, or 6.51 per cent, to A$36.89, while Babcock & Brown lost 58 cents, or 36.71 per cent, to A$1.00.
In the miners, BHP Billiton dropped 34 cents, or 0.94 per cent, to A$35.69, while takeover target Rio Tinto was down A$1.45, or 2.11 per cent, to A$104.98.
- AAP
