Australia's Big Miners Are Getting Hosed On The Market With Fortescue Down 10%

Bear costumeFile photo: Getty / Ralph Orlowski

Fortescue is down more than 10% after the open this morning, with investors also selling out of BHP and RIO.

FMG was down 10.3% on a falling iron ore price, driven by weak trade data out of China. Here’s a live price.

Iron ore, based on the most commonly-cited price, fell to its lowest level for a dry ton on Friday at $US114.20.

Prices have fallen 20% since August 14, when they reached a a five-month high.

Rio and BHP were also down 3.54% and 3.21% respectively.

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