The Australian Stock Market took the lead from Global Markets and with the S&P200 plunging 3.7%, the biggest one day fall since 7/11.
“Cash is king at present, with the market continuing to respond very directly to offshore volatility as the fall-out from sub-prime credit crisis spreads,” MFS chief executive Guy Hutchings said.
» Share market nosedives – Sydney Morning Herald, 10 August 2007.