SYDNEY, April 7 (Xinhua) -- The Australian share market lost over 100 billion Australian dollars in the opening minutes of trading on Monday.

The S&P/ASX 200, Australia's benchmark share market index, fell by over six percent to an 18-month low of 7177.3 points within minutes of the market opening at 10 a.m. Australian Eastern Standard Time on Monday in a wipeout worth about 160 billion Australian dollars (95.9 billion U.S. dollars).

As of 10:50 a.m., the ASX 20, the 20 largest ASX-listed stocks by market cap, was down 6.2 percent.

The share price of Australia's "big four" banks had all fallen by at least 6.5 percent. Mining stocks were down by 7.5 percent and energy stocks by 8.3 percent, the Australian Broadcasting Corporation reported.

Earlier on Monday, the value of the Australian dollar fell below 60 U.S. cents for the first time since 2020. Enditem

Related

Go to Forum >>0 Comment(s)