SYDNEY, Oct. 27 (Xinhua) -- The Australian share market fell to a three-week low on Tuesday, as COVID-19 cases rose in Europe and a U.S. stimulus deal seemed unlikely.
At the market close the benchmark S&P/ASX 200 index was down 104.60 points or 1.70 percent at 6,051.00, while the broader All Ordinaries index was down 110.10 points or 1.73 percent at 6,247.20.
"Tuesday's slump follows a 1.9 percent decline for the S&P 500 index overnight," CommSec market analyst Steven Daghlian said.
"An alarming rise in coronavirus cases across Europe is leading to further restrictions ... There are also a number of uncertainties in coming weeks, from the U.S. election which is only eight days away to a pre-election U.S. stimulus bill becoming increasingly unlikely. "
Locally, there were losses across all sectors, with most falling by more than 1 percent. Energy and tech stocks suffered the most.
In the financial space, the big banks slumped with Commonwealth Bank down 1.38 percent, National Australia Bank down 1.24 percent, Westpac Bank down 0.75 percent and ANZ down 0.92 percent.
Mining stocks plummeted with BHP down 2.21 percent, Rio Tinto down 2.49 percent, Fortescue Metals down 2.41 percent and gold miner Newcrest down 0.56 percent.
The country's oil and gas producers slumped with Oil Search down 3.43 percent, Santos down 3.59 percent and Woodside Petroleum down 3.33 percent.
Australia's largest supermarkets varied with Coles up 0.58 percent, and Woolworths down 1.24 percent.
Meanwhile telecommunications giant Telstra slumped 1.81 percent, the national carrier Qantas plummeted 1.75 percent and biomedical firm CSL slumped 1.36 percent.
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