The Australian share market has plunged again today in the wake of heavy falls overnight in Europe and the United States. At one point the key market indicator the All Ordinaries Index dived more than 3 per cent amid widening fears that the much trumpeted bailout of the US financial sector won't prevent a deep global recession. On Wall Street the Dow Jones Industrial Average dived below the psychological barrier of 10,000 points for the first time in four years, closing 3.6 per cent lower at 9,955 points. After a day of turmoil, it is estimated that US$2.5 trillion was erased from equities markets in the US and Europe. A situation of near panic on Wall Street left traders such as Wayne Kaufman expecting more falls in the coming days and weeks. "We are right now experiencing a market crash, it's sort of slow motion compared to...
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