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AAP
AAP
Business

FED:Shares tumble as miners and banks slide on Iran woes

Iran United States

Australia's share market has wiped the previous session's gains, amid a re-escalation of tensions between the US and Iran.

The S&P/ASX200 fell 111.2 points by midday, down 1.27 per cent, to 8,674.5, as the broader All Ordinaries lost 110.9 points, or 1.23 per cent, to 8,906.3.

The slump followed a weak session on Wall Street after a record-breaking rally in US tech stocks ran out of steam.

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