Australian Stocks Fall 2.02 Percent. In trading on Friday (07/05/2010), the Australian Stock Exchange index fell 2.02 percent, amid fears the Greek crisis will spread to the rest of the world. Panic in the U.S. stock market, with the Dow Jones index plummeted 9 per cent even had time to recover, also influence the decision of Australian investors.

Conditions in Europe, has affected the markets then even worse, said Ben Potter, analyst at IG Markets said Friday. In the end, we'll talk about the deteriorating condition of the country, not just the company, complained Potter.

Australian investors are also affected by the statement of Prime Minister Kevin Rudd. I do not intend to give warning of this condition (market decline). But, we are following the developments closely, he said. N ilai Australian market has fallen 6.8 percent, in the past week.

Besides being a Greek influence, the stock market Australiaterutama mining stocks hit by commodity price declines, and the Australian government plans to implement 40 per cent tax to mining companies who reap super profits.