Australian shares fall sharply, hit one-month low

The local share market has slipped to a nearly one-month low in morning trade, with losses across the board after a bleak economic update from Germany. At lunchtime AEDT on Tuesday, the benchmark S&P/ASX200 index had fallen 90.1 points, or 1.2 per cent, to 7,406.2, its lowest level since December 15. The broader All Ordinaries was down 93.6 points, or 1.21 per cent, to 7,636.5. The losses came after Germany's national statistics office reported reported a 0.3 per cent fall in gross domestic product in 2023, raising fears about the state of the global economy. "Despite recent price declines, prices remained high at all stages in the…