Aust stocks drop at open

Local market retreats in early trade as uncertainty over ongoing budget negotiations in the US weighs on sentiment.

The Australian stock market opened almost 1% as uncertainty over the ongoing budget negotiations in the United States weighed on investor sentiment.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index fell 0.9% to 5,259.5 points, the broader All Ordinaries index retreated 0.87% to 5,256.4.

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