The Australian sharemarket recovered most of its early losses as the day wore on, boosted by robust capital expenditure figures released by the ABS.
At 3.30pm the ASX200 was 0.53% lower at 4072.4, while the broader All Ordinaries was 0.44% lower at 4130.30.
New figures released today showed capital expenditure rose by a seasonally adjusted 6.1% to 40.002 billion in the March quarter. This was well above the 3.3% rise expected by the market.
Wall Street fell more than 1% and major European markets lost closer to 2% overnight.