Australian stocks fall about 1% as oil rally boosts RBA hike odds
Australian shares fell about 1% Wednesday after oil prices surged, weighing on risk appetite and strengthening expectations the RBA may raise interest rates. S&P/ASX 200 ended near 8,978.40 points, about 1% lower.
By Aamir KhalidAustralian shares tumbled 1% on Wednesday after a surge in oil prices dampened risk appetite and strengthened expectations that the Reserve Bank of Australia (RBA) may yet need to raise interest rates.The S&P/ASX 200 ASX:XJO ended about 1% lower at 8,978.40 points, its lowest close i…