Australian stockmarket still tumbling

Australian stockmarket still tumbling

22 January 2008

The Australian stockmarket's record losing streak continues as stocks freefall with billions being wiped away from superannuation funds.

The S&P/ASX200 lost 5 percent by lunch time today with investors looking to minimise their losses after yesterday's disaster that saw more than $30 billion lost.

No doubt there will be many small investors who will be keen to put their money into a regular high interest savings account until the uncertainty of world financial markets subsides.

Bank accounts are so easy to open that you can even visit your bank web site and open bank accounts online without too much of your time required to do so.

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