Australia shares fall 3.1 pct

Australian stocks slumped 3.1 per cent to close at an eight-month low on Monday,hit by worries about Europe’s sovereign debt crisis crimping global growth,which hammered metals prices and the mining sector.

The benchmark S&P/ASX 200 index lost 143.9 points to close at 4,467.2,according to the latest data.

New Zealand’s benchmark NZX 50 index fell 0.6 per cent to 3,170.7.