The ASX slides

GREG WOOD/AFP/Getty Images

Australian stocks slipped hit by turbulence from Wall Street.

The US market fell overnight on reports that the Trump administration is considering a crackdown on Chinese investments into US companies.

The S&P500 closed 1.7% lower and the tech-heavy Nasdaq dropped 2.9%.

The ASX200 slumped below the key support level of 5800. At the close, the index was at 5,789.50, down 42.80 or 0.73%.

The major banks were all in the red, with the ANZ down 1.1% to $27.100.

Among the miners, BHP was down 1.1% to $28.67.

Pure-play iron ore miner Fortescue Metals was down 4.5% to $4.37.

a2 Milk fell 7.2% to $12.06 following reports of Nestle launching a similar infant formula product in China.

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