The Aussie market was smashed today amid renewed concerns over Europe’s debt problems.

All sectors were caught up in the sell-off, amid mounting fears Greece will default before it receives the next tranche of its bailout money.

All of the big banks ended lower; Westpac was the weakest, down 2.1%.

The mining giants struggled amid an uncertain outlook for commodity demand; BHP declined 1.7% and Rio Tinto shed 1.5%.

Some of the retailers were spared from the punishment; JB Hi-Fi added 1% whilst Premier rose 1.5% on the back of its positive FY11 result.

Billabong was the worst performing stock on the market in the top 200, sinking 7.6%.

The ASX 200 fell 68 points (-1.6%), closing at 4082.