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Mining Doom: S&P/ASX 200 suffers horror day

After Wall Street crashed overnight, the ASX was doomed to follow.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 3.8% to 4,918 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 3.6% to 4,958 points
  • AUD/USD at US 69.46 cents
  • Iron Ore at US$56.86 a tonne, according to the Metal Bulletin
  • Gold at US$1,126.86 an ounce
  • Brent oil at US$47.33 a barrel

What a day. The local market closed deep in the red with commodity stocks leading the way after Glencore’s London-listed shares fell more than 23% overnight.

In response BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) were both hit for six. The pair plunged 6.7% and 4.6% respectively, while Santos Ltd (ASX: STO) and Origin Energy Ltd (ASX: ORG) closed 9.1% and 10.4% lower, respectively.

Like most blue-chips, the banks were also on the chopping block. The Big Four all fell between 3.5% and 3.8%, with Westpac Banking Corp (ASX: WBC) the hardest hit. Telstra Corporation Ltd (ASX: TLS) and CSL Limited (ASX: CSL) also plunged 4.4% and 3.3%.

Paladin Energy Ltd (ASX: PDN) was the worst performing stock, losing 13.2%. Slater & Gordon Limited (ASX: SGH) managed to buck the trend with a 3.2% gain.

Here are Tuesday’s top news stories:

  1. A crash-landing for the ASX 200: What every investor needs to know
  2. The Australian economy could get even worse: IMF
  3. This is why BHP Billiton shares crashed today
  4. The bear case strengthens for Origin Energy
  5. Has Corporate Travel Management Ltd (ASX: CTD) hit turbulence?
  6. 5 reasons to buy Westfield Corp Ltd (ASX: WFD) for a blue-chip retirement
S&P/ASX 200, September 29, 2015. Source: Google Finance

S&P/ASX 200, September 29, 2015. Source: Google Finance

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.