The Australian sharemarket finished at its lowest level in four weeks amid declines across mining, real estate, and utilities sectors.
The S&P/ASX 200 dipped 34.3 points or 0.4% to 8,296.0, extending declines of 0.3% in the previous session.
A surprisingly robust jobs report on Thursday dampened hopes for an imminent interest rate cut by the Reserve Bank of Australia, exacerbating the market's slide.
Nine of 11 sectors retreated, with miners leading the downturn as reports of fiscal stimulus from China failed to buoy sentiment.
Rio Tinto lost 2.8%, BHP lost 1.5% and Fortescue Metals shed 3.4%.
Real estate also faced pressure, with Goodman Group down 1.8%, Stockland falling 2% and Scentre Group losing 0.3%.
In new listings, DigiCo Infrastructure REIT closed at $4.65 after debuting in the largest IPO of the year.
Financial services firm Insignia Financial also rose sharply, climbing 6.5% following a $4 per share takeover bid from Bain Capital.
On the bond markets, 10-year rates were at 4.298% while 2-year rates were at 3.909%.