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.