Australian stocks fell heavily on a day where the negative mood among US investors overnight carried into local trading, with the benchmark S&P/ASX200 index closing 58.4 points, or 1.06 per cent, lower at 5,452.5.

Australian stocks fell heavily on a day where the negative mood among US investors overnight carried into local trading, with the benchmark S&P/ASX200 index closing 58.4 points, or 1.06 per cent, lower at 5,452.5.