Miners plunge deep into the red

IT was a dire day for the Australian market and miners in particular after the Dow Jones dropped 200 points overnight and base metals copped a severe hammering.

The S&P-ASX 200 and All Ordinaries dropped back to levels not seen since the end of May.

The All Ordinaries fell 3% or 117.8 points to 3793 points, while the S&P-ASX 200 dropped 3.1% or 121.