Aust stocks close more than 1% lower

Local market drops on global rotation out of equities, investors await Fed minutes overnight.

The Australian sharemarket closed sharply weaker today in thin trade amid a global rally out of equities and into bonds as the outlook for Europe softens.

At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index was 58.4 points, or 1.06%, lower at 5,452.5 points, while the broader All Ordinaries index lost 56.3 points, or 1.02%, to 5,442.2 points.


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