Australian stocks are getting crushed

File photo. Sergio Dionisio/Getty Images

The Australian market is getting hammered.

A run of profit results, including Qantas and Wesfarmers, didn’t put a dent in the negative market sentiment following a weak lead from global markets.

The major banks all lost ground. The Commonwealth was down 2.2% to $76.54 and the ANZ 1.94% to $29.26.

Among the miners BHP had lost 3% to $24.38, Rio Tinto 2.3% to $49.47 and Woodside Petroleum $3.5% to $31.69.

Qantas, which today made a triumphant return to profit, shed 1% to $3.72 after initially rising 3% on release of the annual results.

Wesfarmers, showing strong growth among its retail businesses including Coles, was up 1.71% to $41.07.

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