Sharemarket Takes a Hit
The Australian sharemarket took another hit today on the back of plummeting share prices in both America and Europe as investors continue to suffer in the aftermath of the sub-prime mortgage fiasco in the US.
At lunchtime today, the S&P/ASX200 index was down 106.8 points, while the All Ordinaries had dropped 102.2 points.
Australian banks took a hit with the ANZ dropping to $27.01, the Commonwealth Bank was paying $56.94, the National Australia Bank was down to $38.96 and Westpac was at $26.85.
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