Aust stocks open weaker

Local market dips slightly in early trade as Fed taper drives Wall Street lower.

The Australian sharemarket opened modestly lower following falls on Wall Street after the Federal Reserve announced it would cut back further on its economic stimulus.

At the 10.15am (AEDT) official market open, the benchmark S&P/ASX200 index fell 14.4 points, or 0.27%, to 5,341.2 points, while the broader All Ordinaries index shed 14.7 points, or 0.27%, at 5,358.3 points.

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