Australian shares have recorded their worst weekly performance this year, with a second straight day of heavy falls.
About $53 billion has been wiped off the value of the local market in the past two days, and the Australian dollar remains in the doldrums.
After yesterday's 2 per cent dive, the All Ordinaries Index today fell 76 points to 4,964 and the ASX 200 closed down 1.5 per cent to 4,983.
Analysts say investors are panicking about the possible withdrawal of stimulus measures in the United States and Japan, and the knock-on effect for the global economy.
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