Global stocks have fallen on renewed concerns that the latest bailout plan for Greece could unravel by the end of the week.
European markets ended around three percent lower and Wall Street closed 1.5 percent weaker.
The Australian sharemarket followed the lead with the All Ordinaries Index opening one percent in the red.
Investors are also on edge about falling commodity prices and wider evidence that the world's economy is slowing.
Here's my analysis from this morning's edition of AM.