Australian stocks start lower, S&P 200 drops 18.1pts, All Ordinaries slips 17.7pts

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SYDNEY: The Australian stocks started lower as fall  in iron ore and copper cost weighed heavily on resources stocks.
At the 10.15am (AEDT) official market open, the benchmark S&P/ASX200 index was down 18.1 points, or 0.33 per cent, at 5,386.6 points, while the broader All Ordinaries index lost 17.7 points, or 0.33 per cent, to 5,364.4 points.
CMC chief market analyst Ric Spooner said the local market was unsettled over the potential for weak commodity prices to entrench expectations of below target inflation and add to consumer caution.
“The fact that copper joined the party, losing more than 4 per cent in a session in which Brent Oil continued to drift lower will do nothing to settle investor nerves,” he said.
“Resource stocks will be unsettled by the possibility that last night’ steep fall in copper may be opening a new front in the recent commodity rout.”