The S&P/ASX200 closed sharply lower Friday, dropping 147 points or 2% to 7,186, crossing below its 125-day moving average - a podcast by ausbiz

The S&P/ASX200 closed sharply lower Friday, dropping 147 points or 2% to 7,186, crossing below its 125-day moving average. Asian markets sank after another jumpy Wall Street sell-off, investors tepid over the idea of higher borrowing costs, US debt defaults and a cooling global recovery. At home, NSW lost it's Premier and the Prime Minister decided, "it's time to give Australians their lives back". Virgin Money UK (VUK) and Mineral Resources (MIN), took it worst, down 7.3% and 6.7%, respectively. Gold Road Resources (GOR) the best of the goldies up 4.6%, and thusly the entire market. Somebody tell Sean Connery the Hunt for Red October is over. We found it on the very first day.

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