AUSTRALIAN STOCKS FALL: Heres what you need to know – WBNews

Men dressed in traditional costume pour a bucket of water over a girl as part of Easter celebrations in the village of Selec, north-western Slovakia. Samuel Kubani/AFP/Getty Images Australian stocks fell, dragged down by the miners. Today’s scoreboard: ASX 200: 5,836.70 -53.25 -0.90% All Ordinaries: 5,868.70 -57.17 -0.96% AUD/USD: 0.7554 -0.0037 -0.49% The local market fell again, wiping out last week’s gains, despite a positive result on Wall Street overnight where the S&P500 closed 0.9% higher. The miners again led the rout as iron ore prices fell further. Rio Tinto dropped 1.9% to $58.00, BHP 1.5% to $23.93 and pure play iron ore miner Fortescue Metals 7.4% to $5.09. The major banks also dipped with the Commonwealth down 0.8% to $85.51 and the ANZ 0.75% to $31.66. Gold miner Newcrest Mining was down 4.5% to $23.98 aftre announcing its Cadia operation near Orange NSW isn’t expected production guidance for 2017 due a “seismic event”. Telstra is down another 3.8% to $4.00 after last week’s announcement that competitor TPG Telecom plans to build its own mobile phone network. The shares ahve fallen more than 12% since last Wednesday. The top stories: 1. 457 visas are gone. Malcolm Turnbull axes the program for skilled migration, saying he’s putting Australians first. Also read: Almost 1.3 million people have come to Australia on 457 work visas over the last 20 years. 2. A leading startup CEO says abolishing 457 visas could drive companies away. The Australian tech and startup community has mostly reacted negatively…more detail