With Europe trying to deal with its debt crisis, the effects have been felt by Australia as over $120 billion had been wiped off its shares in the market in the month of May. This has been the lowest level that Australia’s stocks had fallen in six months.

The market had plunged by 2.6 percent, wiping off about $35 billion from the local shares. With the market’s loss reaching $121 billion with its year’s peak on May 2, Australia could have already bought A380 super jumbo jets.