Australia's S&P/ASX 200 Slumps on U.S. Hosung Concerns; BHP, Banks Slide

(Bloomberg) -- Australian stocks dropped for a third
day on concern a worsening U.S. housing slump will slow economic
growth in the world's biggest economy and prompt investors to shun
equities. James Hardie Industries NV and BHP Billiton Ltd. fell.

The S&P/ASX 200 declined 161.3, or 2.6 percent, to 6,097.2 at
10:15 a.m. in Sydney. Only three of the index's 201 members
advanced. It dropped 1.6 percent in the past two days and is set
to decline 5.2 percent this week.


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