Australia's stock market falls on Wall Street loss

By JERUSALEM POST STAFF
Australia's stock market closed more than 4 percent lower Thursday after post-election jitters about the US economy sent Wall Street into a nosedive. The benchmark S&P/ASX200 index closed 4.3 percent lower, or 180.8 points, at 4,197.7. The Australian market's loss follows a dismal day on Wall Street that saw the Dow Jones Industrial Average fall 5.1 percent or 486.01 points to 9,139.27 as euphoria about Barack Obama's election as US president gave way to renewed concerns over a recession in the world's largest economy. Aequs Securities institutional dealer Ric Klusman said the market had slumped because of continuing concern that the world economy was slowing.