Sydney, July 27, 2007 (ABN Newswire) - Well the Australian share market had its biggest one-day percentage fall in over four months today. Continued fears about problems in the U.S. subprime mortgage market flowing into the rest of the U.S. economy sending markets into a panic. Our market reacted to a plunge in U.S. stocks overnight with index heavyweight BHP leading the fall. All the big banks were hit hard, as well as Macquarie losing over 5 per cent by the close of trade.

The ASX 200 Index dived 176 points to 6083, and is down 339 points on the week. On the futures market the SPI 200 slipped 177 points.

Looking to US indices now, the Dow Jones industrial Index plunged 378 points over the four day trading week. The S&P 500 moved 51 points lower, the NASDAQ shed 88, and the 100 index slid 49 points

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/lnk/N4968K76


Audio Link

http://abnnewswire.net/lnk/N9304876

About Finance News Network

Finance News Network (FNN) has been producing up-to-date concise business and finance news tailored to traders and investors alike since 2002. FNN content reaches a diverse and constantly growing audience via online streaming video, Street Vision broadcasts and the Telstra 3G mobile phone network.
http://www.finnewsnetwork.com.au

>>> CONSOLIDATED MINERALS LIMITED
>>> MULTIPLEX GROUP
>>> WESFARMERS LIMITED
>>> WOODSIDE PETROLEUM LIMITED