Aust stocks close weaker

Local market falls more than 1.6% as investors worry about US budget.

The Australian stock market slumped more than 1.6% today as investors worry about a United States government shutdown if budget negotiations fail.

At the 1615 AEST official market close, the benchmark S&P/ASX200 index fell 1.66% to 5,218.9 points, the broader All Ordinaries index retreated 1.6% to 5,217.7 points.

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