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STOCKS - AUSTRALIAN INDEX FALLS AT NOON - MARCH 3, 3008.
SYDNEY, March 3 Asia Pulse - The Australian stock market fell over three per cent following large falls on Wall Street last week and dragged down by local banks.
At 1200 AEDT, the benchmark S&P/ASX200 index was 172.4 points or 2.95 per cent lower at 5399.7 points, while the broader All Ordinaries index lost 168.6 points or 2.96 per cent to 5506.1.
On the Sydney Futures Exchange, the March share price index contract was 165 points lower or 3.02 per cent at 5399 on a volume of 13,853 contracts.
A private client adviser at ABN AMRO Morgans, Trent Muller, said the market was being weighed down heavily by Wall Street and Tokyo.
"Almost everything is down today but I think it is mostly being driven by the US and banking stocks, which have the big four all down by over three per cent," Mr Muller said.
"Local data on inflation and interest rates expected tomorrow ...
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