The Australian market looks set to open lower after a global sell-off over concern about a possible end to US stimulus measures and as data showed slumping business activity across the eurozone.
At 3.30pm, the March share price index futures contract was down 11 points at 4956.
In economic news, Reserve Bank of Australia governor Glenn Stevens is to appear before the House of Representatives Standing Committee on Economics in Canberra.
In equities news, Crown, Sims Metal Management and Transpacific Industries are due to post first half results, while Santos and Macquarie Atlas Roads are expected to announce full year results.
Yesterday, about $36 billion was wiped from the value of Australian shares after the local market posted its largest one-day decline in nine months.
The fall, generated by investor concerns over a big drop on Wall Street overnight and weaker metals prices, took the local market below the 5,000 point barrier that it broke through on February 13.The benchmark S&P/ASX200 index tumbled 118.6 points, or 2.33 per cent, to 4980.1 points, while the broader All Ordinaries index slid 115.8 points, or 2.26 per cent, to 4998.6 points.
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