Australian stocks open sharply lower

http://www.newstrackindia.com/newsdetails/25805

IANS

Australasia

Wed, 08 Oct 2008: 

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 cts to 70 US cents as the flight out of commodities-linked currencies continues.

The Aussie dollar was sold off along with the South African rand, the Canadian dollar and the New Zealand dollar.