The Aussie market extended its declines today, with this morning's Italian credit downgrade adding to investor anxiety over Greece's debt crisis.
Materials were the biggest drag on the market, with BHP down 2.1% and Rio Tinto giving up 1.9%.
Gold miners were mixed despite last night's sharp fall in bullion prices. Newcrest 0.5% and Medusa dropped 1%.
All of the big four banks weakened amid concerns over the health of their European peers; CBA lost 1.3% and ANZ shed 0.5%.
However the healthcare sector was a bright spot due to its defensive nature. CSL up 2.8% and Ansell advanced 0.8%.
The ASX 200 fell 41 points (-1%), closing at 4040.
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