SYDNEY, March 2 (Xinhua) -- The Australian share market slumped at open on Monday, continuing on from heavy losses the week before.
At 10:30 (AEST), the benchmark S&P/ASX 200 index was down 187.30 points or 2.91 percent at 6,253.90, while the broader All Ordinaries index was down 192.70 points or 2.96 percent at 6,318.80.
After dropping close to 10 percent the week before, the local market kicked off another day of steep losses with resources and financials weighing particularly heavily.
In the financial space, Australia's big banks sank with the Commonwealth Bank down 2.52 percent, ANZ down 2.82 percent, National Australia Bank down 2.55 percent and Westpac Bank down 2.92 percent.
Mining stocks were sharply lower with Rio Tinto down 2.73 percent, BHP down 3.19 percent, goldminer Newcrest down 1.98 percent and Fortescue Metals down 10.27 percent.
The country's oil and gas producers plummeted with Oil Search down 2.91 percent, Santos down 1.03 percent and Woodside Petroleum down 1.58 percent.
Australia's largest supermarkets were mixed with Coles up 1.06 percent, and Woolworths down 1.21 percent.
Meanwhile telecommunications giant Telstra dropped 0.88 percent, the national carrier Qantas slumped 5.61 percent and biomedical firm CSL sank 1.84 percent.
At 10:30 (AEST), the benchmark S&P/ASX 200 index was down 187.30 points or 2.91 percent at 6,253.90, while the broader All Ordinaries index was down 192.70 points or 2.96 percent at 6,318.80.
After dropping close to 10 percent the week before, the local market kicked off another day of steep losses with resources and financials weighing particularly heavily.
In the financial space, Australia's big banks sank with the Commonwealth Bank down 2.52 percent, ANZ down 2.82 percent, National Australia Bank down 2.55 percent and Westpac Bank down 2.92 percent.
Mining stocks were sharply lower with Rio Tinto down 2.73 percent, BHP down 3.19 percent, goldminer Newcrest down 1.98 percent and Fortescue Metals down 10.27 percent.
The country's oil and gas producers plummeted with Oil Search down 2.91 percent, Santos down 1.03 percent and Woodside Petroleum down 1.58 percent.
Australia's largest supermarkets were mixed with Coles up 1.06 percent, and Woolworths down 1.21 percent.
Meanwhile telecommunications giant Telstra dropped 0.88 percent, the national carrier Qantas slumped 5.61 percent and biomedical firm CSL sank 1.84 percent.
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