Aust stocks close sharply lower

Local market falls after weakness in iron ore price as investors await consumer sentiment read.

The Australian sharemarket has closed more than 1.2% lower as Asian markets fall and a drop in the iron ore price weighs on miners.

At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index declined 70 points, or 1.28%, to 5,409 points, while the broader All Ordinaries index shed 68.6 points, or 1.26%, to 5,390.3 points.


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