UPDATE 2.25pm: The nation's iron ore miners continued to feel share price pressure today on the falling iron ore price.
Iron ore was $US91.50 a tonne yesterday with further pain expected.
Fortescue Metals Group was the worse affected after it copped a downgrade from Morgan Stanley.
Shares in FMG shares plunged 27 cents, or 6.24 per cent, to close at $4.06.
Atlas Iron was also off sharply, down 2.5 cents, or 4.07 per cent, to 59 cents, a post-GFC low for the stock.
Rio Tinto gave up $1.12, or 1.91 per cent, to close at $57.60 while BHP fell 42 cents to $35.29.