Led by sharp falls in the banks, it was an ugly session for Australian stocks.
The benchmark ASX 200 index finished the day at 4,832.1, down an ugly 2.88%.
Not only did the index close at the lowest level since July 8, 2013, it was also the seventh largest percentage decline registered since the start of 2011.
Truly a substantial decline, and one that left its year-to-date decline at 8.76%.
Coincidentally, its close on February 9, 2006 was 4,832.1, meaning the index – excluding dividends – has now gone nowhere over the past ten years.
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