World stocks have fallen sharply, the euro has hit a 12-year low against the yen and Spanish borrowing costs have reached record highs on speculation Spain could soon require a full state bailout.
In economic news on Tuesday, Reserve Bank of Australia (RBA) governor Glenn Stevens is scheduled to deliver speech to the Anika Foundation.
In equities news, Alesco Corp is due to post full year results, while Atlas Iron and Metminco are slated to post June quarter reports.
In Australia, the market on Monday, closed 1.7 per cent lower amid renewed fears about the European debt crisis and the end of Australia's mining boom.
At 1615 AEST on Monday, the benchmark S&P/ASX200 index was down 70.2 points, or 1.7 per cent, at 4,128.9, while the broader All Ordinaries index was down 71.4 points, or 1.7 per cent, at 4,159.2.
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