Australian Equities Plunge Most in Two Years Amid Global Rout

Australian stocks plunged, with oil and mining companies leading the benchmark index to its biggest drop in more than two years, as concern that the global economic recovery may stall triggered a worldwide equities rout.

BHP Billiton Ltd., the world’s biggest mining company, slumped 4.8 percent after commodity prices tumbled. Rio Tinto Group, the second-largest miner by sales, slid 6 percent after first-half profit missed analyst estimates. Commonwealth Bank of Australia, the nation’s No. 1 lender by market value, dropped