The ASX has dropped 155 points or 3.5%, this morning, following the bearish lead from the US and Europe on Friday.
Very few stocks are unscathed and all sectors are down.
At midday, the Commonwealth Bank (ASX:CBA) was down $1.74 to $49.73 and Macquarie Group (ASX:MQG) was down $2.19 to $42.06 a drop of nearly 5%. AMP (ASX:AMP) was down $31c to $5.49 a drop of over 5%.
BHP Billiton (ASX:BHP) was down $1.45 to $36.42 and Roc Oil dropped nearly 6% to 34c. Newcrest Mining (ASX:NCM) provided a rare glimmer of green rising 5c to $32.46.
Flight Centre (ASX:FLT) is down $1.07 to $16.77 a drop of over 6%.
Seek Limited (ASX:SEK) was down nearly 6% to $7.09 despite a recent report that May job vacancies had risen by 4%. Clearly investors believe negative US jobs data trumps positive Australian jobs data.
CSL Limited (ASX:CSL) was one of the few bright spots rising 17c to $32.99. Fellow pharmaceuticals company ChemGenex (ASX:CX) rose fractionally after announcing positive safety findings from a combined analysis of two clinical trials for its OMAPRO product.
Bucking the trend completely, Redflex Limited (ASX:RDF) rose 30% to $2.00