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Australian dollar slips as RBA flags rate cuts, ASX drops to three-month low – ABC News

The local share market and Australian dollar slump, as global markets hit a seven-week low on fears of a longer-than-expected economic recovery.

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Australian shares have dropped in afternoon trade, as global markets sank to their lowest levels in seven weeks on fears of a slowereconomic recovery in the United States and Europe.
Key points:

  • The ASX 200 has lost 2.2pc in the past three days
  • European markets plunged on fears of renewed COVID-19 lockdowns
  • The S&P 500 dropped four days in a row, for the first time since February

By 2:45pm AEST, the benchmark ASX 200 index was down 0.6 per cent to 5,789 p…

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