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Sensex sinks again; rupee at record low

October 23, 2008

Australia, NZ markets plunge

The stock market in Australia fell by more than 4 per cent on Thursday as fears deepened that the global economy is sinking into recession.

The benchmark S&P/ASX200 index was down 4.12 per cent to 3,985 points and the broader All Ordinaries was down 4.18 per cent to 3,948 points after two hours of trading.

It was the second straight day of market declines greater than 3 per cent in Australia as investor sentiment turned negative despite government efforts in Australia and worldwide to talk up markets and prevent a global recession.

Image: The All Ordinaries Index is displayed at the Australian Stock Exchange in Sydney. | Photograph: Greg Wood/AFP/Getty Images

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