Australian share market tumbles to four-week low amid European rate cut jitters

The Australian share market tumbled on Tuesday to hit a four-week low as central bankers in Europe foreshadowed a delay in rate cuts. At the closing bell, the benchmark S&P/ASX200 dropped 1.1 per cent, or 81.5 points, to 7,414.8, while the broader All Ordinaries shed the same amount to 7,647.1. Against the greenback, the Australian dollar was 0.7 per cent lower to 60.61c at the end of trading. The fall followed comments from Robert Holzmann, who sits on the European Central Bank’s governing council, at the Davos Economic Forum overnight. He said it was too early to talk about easing monetary policy and there was “no guarantee of…