Aust stocks slide at noon

Local market extends losses, led by financials and major miners after poor Wall St lead.

The Australian stock market extended losses to fall more than 1% at noon, with miners and financials dragging the index lower after a disappointing performance on Wall Street.

At 1205 AEST, the benchmark S&P/ASX200 index fell 1.11% to 5,048.7 points, while the broader All Ordinaries index lost 1.07% to 5,033.4 points.

In Australia, the market on Tuesday close lower with the Reserve Bank of Australia's rate cut failing to lift the Australian share market into positive territory from its morning falls.

The benchmark S&P/ASX200 index was down 5.7 points, or 0.11%, at 5,105.6 points, while the broader All Ordinaries index lost 5.8 points, or also 0.11%, to 5,088.0 points.