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BREAKING NEWS: The Australian Share Market Plunges More Than 2%

The Australian share market has dropped 2.3 per cent in early trade, as steep falls hit around the world overnight amid coronavirus concerns.

Wall Street’s Dow Jones index posted its worst session in two years after dropping more than 3.5 per cent.

But it’s still an improvement for Australian stocks that are building back from a steep fall yesterday, when they lost more than $50 billion in value.

(AAP Image/Bianca De Marchi)

It comes as technology, industrials, health care, energy, communications and consumer financials sectors are underperforming.

CLS is down 2.5 per cent, Macquarie has dropped 2.8 per cent and Woodside is down 3 per cent, with the major banks dropping about 2 per cent.

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