The Australian sharemarket suffered its worst day since the financial crisis, driven by fears that China's economy is slowing much faster than previously expected and will lead to slower global growth.
The S&P/ASX 200 Index closed down 4.1 per cent at 5001 on Monday in the sharpest one-day sell-off since 2009, equivalent to a $57 billion loss of shareholder wealth.
Matthew Smith writes on personal finance specialising in companies, managed funds and investing themes from our Sydney newsroom. Connect with Matthew on Twitter.
