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AAP
AAP
Business
Adrian Black

Aussie shares sink to seven-week lows as rate bets fade

ASX Gold
A surprise drop in unemployment rattled the Australian share market and investor hopes of rate cuts. (Dan Himbrechts/AAP PHOTOS)

Australia's share market has tumbled to its lowest close since September 18 after stronger-than-expected jobs data scuppered hopes of further Reserve Bank interest rate cuts.

The S&P/ASX200 dropped 46.1 points on Thursday, down 0.52 per cent, to 8,753.4, as the broader All Ordinaries lost 44.9 points, or 0.49 per cent, to 9,034.5.

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