EUROPEAN WOES SEND SHARES TUMBLING AGAIN

Written on the 18 May 2012

EUROPEAN WOES SEND SHARES TUMBLING AGAIN

NERVOUS investors continued a broad-based sell off today as the Australian share market plunged in morning trading.

Although the afternoon saw a slight recovery, today’s early falls wiped $25 billion off the market’s value amid local concerns about financial uncertainty in Europe, particularly in Greece and Spain.

Banks and miners were among the hardest hit as the market fell 2.6 per cent on Friday's trading. Stocks in gold rose slightly.

It was the third consecutive day of market mayhem. The losses on the ASX this month now total more than $100 billion.

 

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