Australia market sinks to two-and-half years low

A late hour selloff dragged the Australian equity market to lowest level in two-and-half years on Tuesday, 15 December 2015, amid caution ahead of the Federal Reserve's interest rate decision later this week. Most of the ASX industry groups declined, with declines were led by shares of bullion, materials, energy, and financials issues. At the close, the benchmark S&P/ASX 200 index declined 19 points, or 0.39%, to finish at 4909.60 points, a lowest level not seen since 10 July 2013, when it closed at 4901.40.

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