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Australian stocks open sharply lower
Australasia,
Wed, 08 Oct 2008
IANS
Sydney, Oct 8 (DPA) Australian stocks tumbled 3.5 percent on the opening bell Wednesday in the wake of a further steep fall on Wall Street.
In early trading the ASX 200 dropped 166 points, or 3.5 percent, to 4,452.
The Australian dollar fell again in early trade, dropping 2 US cents to 70 US cents as the flight out of commodities-linked currencies continues.
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The Aussie dollar was sold off along with the South African rand, the Canadian dollar and the New Zealand dollar.
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