No sector was spared from today’s rout, although energy stocks bore the brunt of the selling.
Woodside fell 3.1% and Santos slumped 4.9%.
Miners were hit hard amid fears an economic slowdown will curb commodity demand.
Rio Tinto and BHP both lost more than 3%, with the latter going ex-dividend.
There were pockets of strength, however, with some gold miners advancing on the back surging bullion prices; Newcrest edged up 0.7%.
All of the major banks ended sharply lower, with NAB the worst performer, down 3.2%.
The ASX 200 tumbled 101 points (-2.4%), settling at 4142.