Australian markets tumble as worried punters pack stock exchange display
room to witness the downfall.

SYDNEY, AUSTRALIA (SEPTEMBER 30, 2008) REUTERS -
Australian shares tumbled 5.4 percent on Tuesday (September 30),
after an unexpected rejection of $700 billion financial bailout plan in the
United States raised concerns about worsening of the global credit crisis.

The benchmark S&P/ASX 200 index fell 254 points to 4,553.4 by 0018
GMT, adding to Monday's (September 29) 2 percent drop.
An unusual crowd of investors packed the stock exchange's viewing room
in central Sydney to witness the downfall.
"I am worried for the sake of the whole financial situation of
Australia as well, very worried, her future, my future," said investor
Craig Gill.
The Reserve Bank of Australia (RBA) pumped extra cash into the money
market and prepared to lend more U.S. dollars as risk aversion reached new
extremes following the shock rejection of a U.S. bailout plan.
Such was the turmoil that investors were increasingly betting the
central bank would also have to cut official rates as soon as next week, and
by an aggressive 50 basis points.
With major banks around the world too scared to lend to each other, the
RBA sought to ease some of the strain at home by adding A$1.95 billion ($1.6
billion) in repurchase agreements, above the estimated daily need of A$1.87
billion.