India, June 8 -- The Australian stock market is sharply lower on Tuesday, extending the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 index is falling to near the 8,500 level, with weakness across most sectors led by mining and technology stocks. Energy stocks were the only bright spot amid spiking crude oil prices.
The benchmark S&P/ASX 200 Index is losing 123.40 points or 1.43 percent to 8,501.70, after hitting a low of 8,490.00 earlier. The broader All Ordinaries Index is down 135.00 points or 1.52 percent to 8,720.90. Australian stocks closed notably lower on Friday ahead of the holiday on Monday.
Among the major miners, Rio Tinto is slipping almost 3 percent and Mi...