Australian stocks fell sharply in early trade.
Investors followed Wall Street where the S&P 500 closed down 1.5%.
On the local market, all ten sectors were in the red, clawing back some of the gains of the last two sessions. The ASX closed 1.46% higher yesterday and 2.42% on Wednesday.
A short time ago, the ASX 200 was at 5,032.20, down 69.81 points or 1.37%.
Today the major banks and the big miners were sold down.
The NAB lost 2.2% to $28.30 and BHP dropped below $17 again to trade at $16.51, down 3%.