Stock market loses more than $40bn in value over fears of Chinese downturn

Market falls to a two-year low with the resources sector hardest hit and energy and banking stocks also down as fears over China strikes world markets Concerns about a Chinese economic downturn have wiped more than $40bn off the Australian stock market with the main indices falling more than 2.5% on Tuesday morning, taking the market to a new two-year low. Fears over China also struck Asian markets, with shares across the region plummeting to their lowest level for more than three years, after w...