Market Close 23 Aug 22: Biggest tumble in over 7 weeks

The Australian sharemarket slumped by 1.2%, its largest tumble in over seven weeks with the ASX 200 also falling back below 7,000 points. Markets remain on edge ahead of a key speech by Federal Reserve Chair Jerome Powell on Friday. Lithium miner Pilbara Minerals and glove maker Ansell both rose after handing down profit results.

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