As it happened: ASX slumps after RBA raises interest rates, Woolies sales up 9.7%, miners in retreat - Sydney Morning Herald

The ASX 200 dropped 0.4% to close at 7316.2 following a slump triggered by the RBA’s decision to raise interest rates by 25 basis points. Miners like BHP, Fortescue and Rio sunk after iron ore prices slumped. It offset the rebound in tech and health stocks.

The Australian sharemarket hit a downdraft when the RBA raised interest rates by a surprisingly large 25 basis points on Tuesday, as the markets digested the implications of rising debt costs. The A… [+2285 chars]

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