Market sentiments weighed down by fears about the deteriorating U.S. economy as expectations grew that the Federal Reserve will make aggressive rate hikes.
At closing bell, the benchmark S&P/ASX200 fell by 41.43 points, or 0.64%, to 6,433.37. The broader All Ordinaries index declined by 53.83 points, or 0.81%, to 6,609.46.
Shares of miners declined amid a commodities selloff on short-term demand woes. BHP, Rio Tinto and Fortescue Metals Group plummeted 5-9%.
Falling oil prices weighed on the energy sector, with Woodside Petroleum and Santos declining 5-6%.
CURRENCY NEWS: The Australian dollar changed hands at $0.6981 after dropping late last week from above $0.70.
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