SYDNEY: Australian shares fell 1.6 per cent to the lowest close in a month as worries about the euro zone debt crisis and looming US recession continued to undermine confidence.
Resources companies bore the brunt of the fall, tracking commodity prices lower.
Global miner BHP Billiton fell 2.18 per cent to its lowest close in a month and Rio Tinto closed down 1.98 per cent, though gold miner Newcrest Mining bucked the trend, to close up 0.9 per cent on a higher gold price .
The benchmark S&P/ASX 200 index closed down 66.348 points at 4,075, according to the latest data. The index has fallen for three straight days, taking losses to 5.4 per cent over the period.
New Zealand's benchmark NZX 50 index fell 0.7 per cent to 3,270.560.
