The Australian share market is being sold off today, following weakness in US and European markets after ratings agency Standard and Poors downgraded its outlook for the UK economy. The All Ordinaries Index (XAO) is down 42pts or 1.1pct to 3762.
The financial sector is down 0.7pct with the ANZ (ANZ) the worst out of the big four, down 1pct to $15.47.
The miners are also being sold off on weaker commodity prices, with BHP Billiton (BHP) weaker by 2.2pct to $33.63 and Rio Tinto (RIO) weaker by 3.4pct to $64.37.
The energy sector is weaker by 2.1pct with crude oil easing from six month highs.
The Australian dollar continues to gain against the greenback and at 12pm AEST is worth US77.96c.
The Australian share market is being sold off today, following...
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