More Heavy Falls on Wall Street Overnight and Investor Uncertainty Over a Possible Global Economic Meltdown.

CMC Markets senior dealer James Foulsham said the market continued to be heavily hit by the weakness in the US and could continue to fall for some months. There is real weakness across the board in the US and we will continue to be dragged down along with it despite the strength in the fundamentals of the Australian economy,'' Mr Foulsham said.

"At the moment all the confidence has gone out of the market and while there is still some value in our companies we are not immune to the day by day declines in the US.

"Normally you have buyers with the sellers but because of the US no one wants to dive into the market and liquidity is at a low as well.''

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