Australian shares dive as bond market fears persist
By Adrian Black
Heavy miners and banks have dragged the S&P/ASX200 lower for a second straight session. -AAP Image
Australian shares have stumbled as bond market woes continue to weigh on investor confidence, with miners, banks and technology stocks taking hits.
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The S&P/ASX200 fell 66.8 points on Thursday, down 0.77 per cent, to 8660.9, as the broader All Ordinaries gave up 71.4 points, or 0.8 per cent, to 8823.2.
Local shares tracked a weak overnight session from global counterparts, with US markets easing as traders mulled tightening borrowing conditions, while European bond yields spiked as France's sovereign debt woes raised fears about other Eurozone economies.
Local banks and miners weighed heavily, as concerns about the domestic economy and global growth continued to loom large.
The Australian dollar is buying 69.55 US dollars, down from 69.70 US cents on Wednesday at 5pm.
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