The ASX200 has tumbled almost 2 per cent on Wednesday morning, with shares in Fortescue and Deep Yellow recording the biggest slides.
The benchmark S&P/ASX 200 was down 1.97 per cent at 11.30AM AWST, shedding 158.7 points to 7944.5 points. Prior to this the largest recent fall was on August 5, when the ASX200 closed down 3.7 per cent.
Uranium player Deep Yellow was the worst performing stock on the ASX200 at mid-morning, with its shares tumbling down 8.14 per cent to 98.7 cents apiece at 11.30AM.
Closely behind was Andrew Forrest’s Fortescue, which was trading down 7.91 per cent to $16.30 per share. It was the worst performing stock on the ASX200 shotly after the market opened.
Fellow mining major BHP’s shares last traded hands at $38.88 cents per share, down 1.82 per cent, while Rio Tinto’s shares dropped to $105.68, down 2.25 per cent.
Goldminer De Grey Mining’s shares were trading down 7.67 per cent, with Karoon Energy and Paladin Energy shares also taking a hit.
It comes after the benchmark S&P 500 index, Nasdaq Composite Index and the Dow Jones Industrial Average recorded their biggest daily percentage declines since early August.
Back home, the Australian economy recorded its weakest yearly growth since the 1990s, with the county’s gross domestic product only lifting by 0.2 per cent.
