The Australian sharemarket extended its decline for a fourth consecutive session on Friday, as oil prices spiked, global bond yields soared and expectations of a United States Federal Reserve rate increase grew.
The S&P/ASX 200 Index fell 78.2 points or 0.9% to 8,741.2, with nine of the 11 sectors finishing in the red.
For the week, the index has fallen 2.9%.
Among sectors, Materials led declines after copper prices fell more than 5%, following Reuters reports that the White House has not yet decided on refined metal tariffs due to concerns over higher domestic manufacturing costs.
BHP fell 4.1%, Rio Tinto declined 3.5%, and Fortescue lost 3%.
Information technology stocks also suffered losses, with Xero dipping 2.5%, WiseTech Global shedding 3.8% and TechnologyOne losing 1.6%.
The Energy sector was lower overall, with Santos adding 0.7%, Woodside Energy dipping 0.2% and Beach Energy gaining 0.6%.
Uranium miners Deep Yellow and Paladin Energy were the two worst-performing stocks on the index, falling 9.9% and 9.6%, respectively.
On the bond markets, the local 10-year yield was little changed at 5.367%, while two-year rates fell 0.4% to 5.003%.
