Sydney - Australian stocks tumbled 3.5 per cent on the opening bell Wednesday in the wake of a further steep fall on Wall Street.

In early trading the ASX 200 dropped 166 points, or 3.5 per cent, to 4,452.

The Australian dollar fell again in early trade, dropping 2 US cents to 70 US cents as the flight out of commodities-linked currencies continues. The Aussie dollar was sold off along with the South African rand, the Canadian dollar and the New Zealand dollar. (dpa)