Australia’s All Ordinaries Index plunged by 212 points to 5773 at the 10.15am open today, wiping about $45 billion from the value of the Australian stockmarket
It would appear investors were too busy watching the Dow fall last night to see data released for January showing new house starts plunged 16.6%, the biggest percentage decline in 13 years and that house prices (existing) are falling at the fastest rate since 1992.
» New-home sales plunge 16.6% in January, to 937,000 units – MarketWatch, February 28, 2007.