Australian shares were lower on Thursday afternoon, with interest-rate-sensitive stocks leading declines and miners under pressure after reports US President Donald Trump may scrap a rare-earths price floor.
The S&P/ASX 200 was down 39.10 points, or 0.4%, at 8,885.80 at 2.03pm AEDT, with 10 of 11 sectors in the red. The Australian dollar also climbed to a fresh 3-year high against the US dollar, rising to US70.39¢.
The S&P/ASX Small Ordinaries (XSO) was down 30.80 points, or 0.77%, at 3,953.80.
Here's what happened with small caps...