The Australian market fell sharply despite a rebound on Wall Street.
The ASX200 sunk to well below the 5900 mark. At the close the index was at 5,837.10, down 58.60 points or 0.99%.
The major banks and the big miners were all deeply in the red.
The ANZ fell 1.8% to $25.43 and BHP shed almost 1.5% to $33.34.
Michael Hill, the jeweller, fell more than 27% to close at $0.66 after announcing an 11% fall in same store sales.
Media shares continued their slide with Nine down 1.3% to $1.815 and Seven West Media 2.9% to $0.83.
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