Oliver Peterson: Australian correspondent on the Middle East conflict's impact on the markets

Australia's sharemarket has taken a hammering as investors voice concerns over the escalating conflict in the Middle East.

After it resumed trading today, the ASX 200 slumped 260.30 points or 2.9 per cent to 8590.708 - and dropped by 4 percent overall.

Australian correspondent Oliver Peterson says this is the worst day for the Australian markets since last year's 'Liberation Day'.

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