The Aussie market is underwater so far today despite the bullish leads provided by Wall Street overnight.
The early morning move by S&P to place the entire euro region on credit watch likely spooked investors, who are also cautiously awaiting this afternoon's RBA interest rate decision.
Nearly every sector is underwater, with industrials and materials the hardest hit, whilst defensive telcos are the only sector in the green.
Around the region, Asian markets are all trading lower; the Hang Seng is down 1% whilst the Nikkei is 0.8% weaker.
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Midday Market Analysis: Soft into RBA is a post from: Australian Stock Report Market Pulse Blog