The Aussie market is suffering badly so far today, currently trading 90 points -2.1%) underwater, at 4070.

Every sector is underwater with consumer discretionary, energy and industrial stocks amongst the hardest hit.

The big story on the day is the massive, 40% demolition of Billabong's share price after the company announced a strategic review of its operations and capital structure after a slowdown in sales put it on track for a 1H profit fall.

Elsewhere, Bendigo and Adelaide Bank is down more than 6% after announcing a $150 million capital raising.

Around the region, Asian markets are faring better than ours; the Hang Seng is down 1.8% whilst the Nikkei is only of 0.8%.

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Midday Market Analysis: Aussie Slump is a post from: Australian Stock Report Market Pulse Blog