THE Australian share market closed lower after the Reserve Bank of Australia cut its cash rate to three per cent, a level not seen since the global financial crisis.
At the close on Tuesday, the benchmark S&P/ASX200 index was 27.9 points, or 0.62 per cent, lower at 4,503.6, while the broader All Ordinaries index was down 28.2 points, or 0.62 per cent, at 4,511.8.
On the ASX 24, the December share price index futures contract was 42 points lower at 4,508, with 22,952 contracts traded.
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