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flag Australia's markets dropped as mining stocks tumbled after a sell-off in gold and silver, reversing much of 2026's gains.

flag Australia's stock market fell on Monday, with the S&P/ASX200 dropping 1.02% to 8,778.6 and the All Ordinaries declining 1.05% to 9,068.8, as investors pulled back from precious metals, triggering a sharp sell-off in mining stocks. flag The materials sector, which had surged over 50% since July, gave back more than half its 2026 gains in two sessions and dropped over 6% since Thursday, following a retreat in gold and silver prices. flag The correction was widely seen as expected after the sector's rapid rise, reflecting shifting investor sentiment and profit-taking in commodity-related equities.

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