Aust stocks recover from sharp losses up to noon

The Australian stock market pared losses at noon on a recovery in iron ore heavyweights, after tumbling more than one% in early trade on carnage in global markets overnight after the US Federal Reserve unveiled plans to wean markets off stimulus as early as September.

The Australian stock market pared losses at noon on a recovery in iron ore heavyweights, after tumbling more than one% in early trade on carnage in global markets overnight after the US Federal Reserve unveiled plans to wean markets off stimulus as early as September.

At 1205 AEST, the benchmark S&P/ASX200 index shed 0.48% to 4,735.4 points, while the broader All Ordinaries index declined 0.53% to 4,718.6 points.

The benchmark dropped to an intra-day low of 4683.3 points earlier in the session. 0

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