The Australian sharemarket has opened over four per cent weaker today, after Wall Street dropped below 8,000 points for the first time since 2003.
The benchmark S&P/ASX200 index was in freefall, down 143.7 points, or 4.11 per cent, at 3355.9 while the broader All Ordinaries sank 138.3 points,
or 3.97 per cent to 3344.9.
In the financial sector, Commonwealth Bank shares dropped A$1.56, or 5.04 per cent, to A$29.37, National Australia Bank lost 76 cents to A$18.92, ANZ was 60 cents, or 4.42 per cent, lower at A$13.22 and Westpac decreased by 74 cents, or 4.55 per cent, to A$15.51.
Babcock & Brown called a trading halt, having last traded at 25 cents.
Its rival Macquarie Group was down by A$1.56, or 6.2 per cent, at A$23.60.
The resource giants were also down heavily.
BHP Billiton decreased A$1.47, or 6.34 per cent, to A$21.73 while rival Rio Tinto was down by A$5.23, or 7.94 per cent, at A$60.67.
- AAP
