The Australian Market Is Off To A Terrible Start

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The Australian market is off to a terrible start, with local investors joining in a global market sell-off.

The ASX200 opened down more than 1.50%, though has made back early losses, and is currently down around 1.15%.

Overnight emerging market equities hit a five-month low, and on Wall Street the S&P500 finished down 0.4%, with the Dow down 0.26% and the Nasdaq falling 1.06%.

Concerns over economic data out of China, as well as fears the Fed will taper its bond-buying program even further, put pressure on the emerging markets that require external investment.

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