Australian stocks open sharply lower

Australian shares are sharply lower in early trade

The Australian share market has opened sharply lower.

At 1019 AEDT on Monday, the benchmark S&P/ASX200 index was down 38.4 points, or 0.71 per cent, at 5,332.3, while the broader All Ordinaries index was down 36.8 points, or 0.68 per cent, at 5,409.8.

The ASX 24 the share price futures index contract was down 18 points at 5,339, with 11,594 contracts traded.