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AAP
AAP
Business
Derek Rose

Australian shares fall sharply, hit one-month low

The local share market has closed at its lowest level since mid-December. (Steven Saphore/AAP PHOTOS)

The Australian share market has dropped to a one-month low, with losses across the board after European Central Bank officials pushed back against expectations for interest rate cuts.

The benchmark S&P/ASX200 index on Tuesday closed down 81.5 points, or 1.09 per cent, to 7,414.8, its lowest finish since December 14.

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