Australian shares are poised to fall at the start of the final trading session of the year, in line with weakness in Europe and losses on Wall Street.
All three US benchmarks were at least 1.5 per cent lower at 10.30am in New York. By midday, they had each pared those early losses in half but the ‘rally’ stalled in afternoon trading, and stocks ended lower on the day. Still, the S&P 500 is on track for its second straight yearly gain of more than 20 per cent.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
