Australian shares have slumped to their worst opening since the global financial crisis with more than $120 billion wiped off in the opening minutes of trade.
The ASX 200 plunged below the 6000-point barrier, dropping almost 4 per cent to 5972.6 at 10.17am.
The oil price has also plunged as coronavirus continues to spread and investors panic.
OPEC and its allies have been unable to come to a deal on production cuts that would have offered support to energy markets.
This sent the oil price tumbling to four-month lows on Friday.
More to come.
The post ASX crashes below 6000, slumping to the worst day since global financial crisis appeared first on The New Daily.
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