Australian sharemarket slumps, tracking Wall Street losses

Stocks fell again on Thursday as the Australian sharemarket’s slow start to the year stretched into a second day following the negative lead of Wall Street. The S&P/ASX200 fell 29.6 points, or 0.39 per cent, to 7493.6 about 10.30am, weighed down by 10 out of the 11 sectors. The ASX has followed Wall Street’s lead. Credit: Louise Kennerley Energy (up 0.98 per cent) was the only sector trading in the green, tracking the higher crude oil price. Brent crude rose to $US78 a barrel amid tensions in the Middle East and an OPEC statement stressing its commitment to stabilising prices. Woodside rallied 1.19 per cent, Santos was up 0.73 per…