Market slumps to two-year low

AUSTRALIAN stocks plummeted today on the back of weak manufacturing data out of China, with the S&P/ASX 200 closing below 5000 points for the first time in more than two years.

Market slumps to two-year low Market slumps to two-year low Market slumps to two-year low Market slumps to two-year low Market slumps to two-year low

The index dropped from the outset and fell further late in the day to close 2.1% or 105.4 points lower at 4998.1 points.

The close was its first below 5000 points since mid-July 2013.

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