Greece fears wipe $40bn from Australian sharemarket
Published on Tue, 30 Jun 2015 91 times viewed
AAP reported that Australia’s share market has suffered one of its biggest fall in years, with nearly $40 billion wiped out as Greece inches towards a default on its debt and a potentially catastrophic exit from the euro zone.
The S & P/ASX 200 plunged 2.2 per cent to 5,422.5, its lowest level since January, as the market got caught up in a global sell-off stemming from the collapse of debt negotiations between Greece and its European Union and International Monetary Fund creditors. The broader All Ordinaries index dropped 119.5 points, or 2.16 per cent, to 5,416.6.
The Australian dollar, meanwhile, reached its lowest point in more than two months, falling to the low US76c range, before staging a mild recovery throughout the day. The euro also took a hit, dropping through the $US1.10-mark for the first time since early June.
Source : AAP