Aust stocks slump over 1.8% on Fed taper talk

Local market extends losses in late trade on fresh QE uncertainty to fall below key 5000 psychological threshold.

The Australian stock market extended losses to fall almost 2% in late trade to sit below the key 5000 psychological threshold, as fresh uncertainty about the future of the US stimulus program weighed on investors.

At 1600 AEST, the benchmark S&P/ASX200 index fell 1.85% to 5,008.8 points, while the broader All Ordinaries index lost 1.8% to 4994 points.


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