The Australian Securities Exchange fell more than two per cent at open today, as the market nervously waits to see if the Wall Street bailout plan will be passed in the US.
At 1015 AEST, the benchmark S&P/ASX200 was down 103.5 points, or 2.17 per cent, at 4,657.6, while the broader All Ordinaries dropped 103.6 points points, or 2.17 per cent, to 4,670.5.
On the Sydney Futures Exchange, the December share price index futures contract fell 86 points to 4,689, on volume of 7,433 contracts.
In the financial sector, Commonwealth Bank was down 34 cents to $45.06, ANZ Banking Group lost 44 cents to $18.54 and National Australia Bank fell 55 cents, or 2.14 per cent, to $25.15.
Westpac lost four cents to $23.47 and its takeover target St George Bank dropped 17 cents to $30.65.
Among the miners, BHP Billiton lost $1.62, or 5.12 per cent, to $30.05, while takeover target Rio Tinto shed $5.04, or 5.52 per cent, to $86.21.
In the US overnight, the Dow plummeted 348.22 points, or 3.22 per cent, to 10,482.85, while the broader S&P500 fell 46.78 points, or 4.03 per cent, to 1,114.28.
The NASDAQ, which carries tech and more recently listed heavyweights, lost 92.68 points, or 4.48 per cent, to 1,976.72.
