The benchmark ASX 200 index shed 2.4 per cent
the All Ordinaries Index finished off by 2.5 per cent
Retailers and energy stocks saw the largest falls
Billabong was the worst performer, diving a record 44 per cent
David Jones slid 9.1 per cent,
Harvey Norman dropped 8.7 per cent
Myer lost 6.2 per cent
The major banks fared slightly better. Westpac was the worst hit, finishing 2.2 per cent lower.
But Bendigo and Adelaide Bank shares dropped 6.7 per cent
Qantas shares finished 3 per cent
Virgin Australia lost 7.7 per cent.
Woodside Petroleum lost 3.4 per cent
Commodities were continuing to fall. In Singapore Tapis crude oil was worth $US114.19 a barrel and West Texas crude oil was down to $US92.72 a barrel.
Spot gold was lower at $US1,588.90 an ounce.
