Stocks set to plunge after US freefall

http://www.theage.com.au/business/markets/stocks-set-to-plunge-after-us-freefall-20100507-uhc0.html


Australian shares are expected to plunge this morning after global stocks went into a tailspin amid worldwide turbulence, with Wall Street's Dow Jones suffering a record-high point fall and European markets on tenterhooks.

This morning on the Sydney Futures Exchange, the June share price index contract was 173 points lower at 4400 on a volume of 12,781 contracts. Yesterday, the major indices finished about 2 per cent lower and the falls in store today are likely to be even higher, compounding the losses that have beset the market this week.