Australia shares fall on Wall St, BHP Billiton drops

Australian shares fell 0.8 per cent on Thursday with BHP Billiton leading losses and Wall St fell to its lowest since late July on uncertainty over US budget negotiations and an escalation of violence in the Middle East. BHP Billiton dragged on the index, dropping 1.5 per cent as it looks to control costs in a softer iron ore market. The benchmark S&P/ASX 200 index was 36.6 points lower at 4,351.8 in opening trade.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1082849/australia-shares-fall-wall-st-bhp-billiton-drops