The bears are in charge as the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is being mauled.
Heading into lunch, the index was down 0.7%, following the lead from Wall Street overnight.
The Dow Jones, S&P 500 and NASDAQ all plunged more than 2% on concerns over global growth (see below) and Greece reared its head again. Prime Minister Alexis Tsipras resigned and called a snap election. He was only elected in January 2015.
The one bright spark is the gold sector as the spot gold price surged overnight. Spot gold added 1.6% to US$1,152.50 an ounce. Most ASX-listed gold stocks have surged higher.