(Bloomberg) -- Australia's S&P/ASX 200 Index tumbled
the most since September 2001, completing its worst week in 15
years. James Hardie Industries NV and BHP Billiton Ltd. led the
slide on concern a worsening U.S. housing slump will slow growth in
the world's biggest economy and prompt investors to shun stocks.
``You've got an economic impact from lower housing prices
and housing demand,'' said Simon Doyle, a strategist at Schroder
Investment Management Australia Ltd. in Sydney, which manages the
equivalent of $11.4 billion. ``That's where we feed back through
into the local market. If the U.S. is under question, there might
be a broader contagion.''
Read more at Bloomberg Stocks News
the most since September 2001, completing its worst week in 15
years. James Hardie Industries NV and BHP Billiton Ltd. led the
slide on concern a worsening U.S. housing slump will slow growth in
the world's biggest economy and prompt investors to shun stocks.
``You've got an economic impact from lower housing prices
and housing demand,'' said Simon Doyle, a strategist at Schroder
Investment Management Australia Ltd. in Sydney, which manages the
equivalent of $11.4 billion. ``That's where we feed back through
into the local market. If the U.S. is under question, there might
be a broader contagion.''
Read more at Bloomberg Stocks News
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