Aust stocks open lower

Local market falls more than 0.8% on fears of early stimulus tapering.

The Australian stock market opened lower following Wall Street falls as better than expected United States jobless claims figures stoked fears of early Federal Reserve stimulus tapering.

At 1020 AEST, the benchmark S&P/ASX200 index fell 0.86% to 5,108.1 points, while the broader All Ordinaries index dropped 0.81% to 5,095.2 points.

IG analyst Evan Lucas said investors will be watching the US markets over the next month.

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