CHART: Australian Bank Stocks Are Getting Hosed On Reports Of A New Tax

Australian bank share prices have tumbled since news that the government could introduce a levy to pay for any future bank bailouts.

The Australian Financial Review’s Phil Coorey broke the news at 11.17am.

Via investing.com, here’s what has happened to the S&P/ASX 200 financials index, which fell more than 1.4% since news broke.

The broader ASX 200 index fell only about 0.87% in the same period:

CBA fell about 1.86%, WBC fell 1.94%, NAB fell 2.06% and ANZ fell 2.02% between 11.17am and about 1pm.

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