The ASX started the day in the red and ultimately ended the session below the 5,000 point mark for the first time in more than two years.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 2.1% to 4998 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1.9% to 5032 points
- AUD/USD at US 70.28 cents
- Iron Ore at US$56.21 a tonne, according to the Metal Bulletin
- Gold at US$1,125.76 an ounce
- Brent oil at US$48.82 a barrel
The ASX was a sea of red today as investors took another multi-billion dollar belting. The selloff was sparked by weak international leads and further concerns regarding the Chinese, and global economies.
As expected, the miners wore the brunt of the market's anxiety today. BHP Billiton Limited (ASX: BHP) fell 4.4% and South32 Ltd (ASX: S32) fell 5.7%. Meanwhile, Fortescue Metals Group Limited (ASX: FMG) dropped 5.5% and Woodside Petroleum Limited (ASX: WPL) was down 2.9%.
The banks didn't provide any buoyancy for the ASX, either. Westpac Banking Corp (ASX: WBC) shed 3.7%, making it the worst of the banks. Its three rivals fell between 2.3% and 3.1%.
Liquefied Natural Gas Ltd (ASX: LNG) ended the day worse off than any other ASX 200 company. It fell 8.1%, while Nufarm Limited (ASX: NUF) was the best performing company, rising 9.3%.
Here are Wednesday's top stories:
- Are you overexposed to property?
- Are the Big Four banks' dividends at risk?
- Here are five ASX stocks to profit from five future trends
- Shares of Nufarm Limited surged after it provided a bullish view of the future
- Could BHP Billiton's share price fall below $20?
- Three ways to get conventionally rich and enjoy currency tailwinds