All The Big Banks Are Down As $25 Billion Wiped off The Australian Market

Getty/Bryn Lennon

All four of Australia’s big banks are leading the market down, with the ASX200 falling 1.81% by early-afternoon trade.

Each of the four big banks were hit more than 2%, with the worst loss suffered by Westpac which was down 3.8% at 12:44 PM.

Miners were better but still down, BHP by 0.95% and Rio by 1.7%.

Losses are being felt across the board.

“It is looking a bit sad today,” RBS Morgans private client adviser Bill Bishop told AAP.

“The financials have taken the brunt of it.”

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