Stocks got crushed after the RBA left rates on hold

Boys slide down a hill at Coolangatta on the Gold Coast. Chris Hyde/Getty Images

Australian stocks tanked as the RBA announced it was keeping official interest rates on hold.

The S&P ASX 200 fell a full percentage point, led by the major banks and some of the big miners.

The NAB, which was up 1.5% in early trade, lost 0.6% to be at $39.05.

BHP, which had been up almost 1%, slipped 0.4% to $30.40.

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