The Australian Stock Market Crumbles On Fears Over Ukraine

A waterfall at Uluru . Mark Kolbe/Getty Images

The Australian stock market sunk today with selling across the board.

The S&P/ASX 200 followed Wall Street down with traders concerned about Ukraine, where Russian interests and local groups appear to be heading toward a war.

The local index dipped down more than 1% during the day before closing at 5,434.60, down 46.78 or 0.85%.

Share were also down across Asian exchanges with Tokyo’s Nikkei 225 down more than 2.5% to 14,091.50 in trading after a two-day public holiday.

In Australia, the big four banks slipped again. The ANZ Bank was down almost 1% to $33.76, Westpac 0.72% to $34.44, the Commonwealth 0.92% to $78.56 and the NAB 0.7% to $33.870.

Among resources, Fortescue was down 2.6% to $4.675, BHP 1.195% to $37.210, Rio Tnto 1.46% to $60.6 and Newcrest 0.95% to $10.43.

An exception was Kathmandu which was up more than 8% before settling at $3.73, up 6.27% on yesterday’s close. The adventure clothing company reported sales of $NZ93 million ($A86.58 million) for the quarter to April 27, up 3.6% on the same period last year.

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