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The Australian share market is bracing for a heavy round of profit taking following the sharp losses on Wall Street with US equities falling 1.8% on fears the coronavirus could dent economic growth. Most asset classes are lower, bonds yield lower too as more money has flowed into treasuries, while gold has gained.

The Aussie futures suggest a 1.7% fall at the open which means we could fall below the 7,000 mark.

All eyes on the RBA meeting tomorrow and Link (LNK).