Australian Market Report of March 3: Economists tipping 25 Points Rate Cut

  Sydney, Australia, Mar 3, 2009 - (ABN Newswire) - Overnight US stocks closed at their lowest levels in 12 years as the massive losses by AIG and HSBC raised new fears over the financial sector. The US market had suffered one of the worst days last night, down 300 points which was equivalent of 4% or more in terms of percentage. The fall was substantial as more bad news had emerged, says Research director Thomas Su of Money Cat.  

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