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Stocks see red

IT was a sea of red on the Australian Securities Exchange today as resource stocks plunged, following a drop in commodity prices, while the Australian dollar took a hit after a surprise fall in employment numbers lowered the risk of a cash rate hike by Australia’s reserve bank.

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At the close of trade the S&P/ASX 200 index lost some ground, falling 1.79% or 84.1 points to 4696.1, while the broader All Ordinaries closed 1.68% or 81 points down at 4776.6. It was reported that...

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