Australia's benchmark index shed 1.5 per cent on Friday, with shares notching another weekly loss. -AAP Image
Australia's share market has crumbled to its lowest level since June, as concerns about stretched valuations collide with a reduced outlook for interest rate cuts.
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The benchmark S&P/ASX200 lost 133.9 points on Friday, down 1.57 per cent, to 8,418.8, as the broader All Ordinaries fell 144.9 points, or 1.64 per cent, to 8,689.1.
A stronger than expected US jobs report overnight dampened hopes of incoming interest rate cuts from the world's largest central bank, dragging on equities markets.
The top-200 has tumbled more than seven per cent after hitting an all-time high of 9,115.2 in mid-October, and has fallen each of the past four weeks.
The Australian dollar is buying 64.46 US cents, down from 64.79 US cents on Thursday at 5pm.
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