Australia’s share market has tanked 6.5 per cent amid panic selling after the worst day ever for European equity markets and the most calamitous for Wall Street since 1987.
The benchmark S&P/ASX200 was 348 points, or 6.56 per cent, down at 4,956.6 points at 1015 AEDT on Thursday, with falls across the board.
The broader All Ordinaries index dived 349.2 points, or 6.5 per cent, to 5021.7.
Energy, materials, industrials and consumer discretionary stocks were down more than seven per cent.
Health care, financials, info tech and property trusts were down more than six per cent after 15 minutes of trading.
Global markets plunged in the wake of a US travel ban for Europe with European markets closing down about 12 per cent while the US tanked 10 per cent.
By the close on Thursday, the ASX200 had lost 20.4 per cent of its value in just 14-and-a-half trading sessions and had sunk to its lowest level since January 8, 2019 amid concerns about the economic impact of the coronavirus on economies.
The Australian dollar was buying 62.82 US cents at 1015 AEDT on Friday down from 65.05 at the market closed on Thursday.
AAP
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