Iron ore futures took a nosedive in afternoon and hit limit down. Also coal futures followed up with heavy move down.
I think that had more impact on markets then RBA.
ASX being heavily weighted on materials and banks, ETFs algos would have been offloading indiscriminately while everyone was watching races.
US futures went from green to red in afternoon, that didn't help either.
Iron ore futures took a nosedive in afternoon and hit limit...
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