ASX tanks as investors turn after RBA rate decision

By Stephen Cauchi
Updated March 3 2015 - 7:18pm, first published 5:34pm
At the close, the All Ordinaries was down 0.4 per cent to 5902.8, while the S&P/ASX 200 dropped 0.4 per cent to 5933.9. Photo: Angus Mordant
At the close, the All Ordinaries was down 0.4 per cent to 5902.8, while the S&P/ASX 200 dropped 0.4 per cent to 5933.9. Photo: Angus Mordant

The Australian sharemarket plunged into the red on Tuesday afternoon as the surprise decision by the Reserve Bank of Australia to keep interest rates on hold led to a sell-off in higher-yielding stocks such as the big banks and Telstra, dashing hopes of the first finish above 6000 points in seven years.

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