Aussie market falls to 8-month low on growth woes

Australian share market declined to a fresh eight-month low on Wednesday, 08 October 2014, as downward revision of the International Monetary Fund (IMF) global growth outlook led to broad selling, with financials and materials stocks being major losers. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index both slid by 0.8% to 5241.30 and 5241.60, respectively. Turnover was relatively healthy with 1.79 billion shares worth of A$4.11 billion traded today.

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