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Australia: Stocks sink as oil, copper retreat

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Australian stocks fell amid a slump in crude oil, as Iran met with US and European diplomats over a nuclear accord and on speculation bombing in Yemen won't have an impact on the global glut. Copper retreated and the dollar held gains.

[SYDNEY] Australian stocks fell amid a slump in crude oil, as Iran met with US and European diplomats over a nuclear accord and on speculation bombing in Yemen won't have an impact on the global glut. Copper retreated and the dollar held gains.

The S&P/ASX 200 Index slid 1 percent by 10.54 am in Sydney, set for its lowest close since March 18. US and Brent crude oil fell at least 0.6 per cent after losses of more than 4 per cent on Friday. Copper futures dropped 0.5 per cent.

Energy and mining stocks drove declines on the S&P/ASX 200, which slid 0.9 percent last week.

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