Afternoon Report | ASX tumbles as oil tops $US100

This is the Fear & Greed Afternoon Report - everything you need to know about what happened in the markets, economy and world of business today, in just a few minutes.

1. ASX tumbles as oil tops $US100

2. Rudd warns Australia risks becoming ‘second-rate’

3. Queensland faces credit rating downgrade

4. Breville boss sells $4.3m in shares

5. Samsung welcomes Apple to the fold

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