Trading Day: S&P/ASX 200 falls to 4-day low

It was another disappointing day for Australian shares and the market erased a solid intraday rise for a second day running.

Global markets have been hit by jitters over losses by big banks. Picture: Jeremy Piper

It was another disappointing day for Australian shares and the market erased a solid intraday rise for a second day running.

Overnight on Wall Street, the Dow Jones Industrial Average closed up 0.3 per cent, the S&P 500 lost 0.1 per cent and the Nasdaq shed 0.6 per cent.

In local news, AGL Energy announced it will split in two, forming a retail business called New AGL and a generation business called PrimeCo. Santos has approved $4.7bn Barossa NT gas project.