SYDNEY, AAP – Investors have taken 0.9 per cent from the Australian share market’s value to start the week, as the US dollar steadied on expectations of inflation.
The S&P/ASX200 benchmark index closed lower by 60.7 points, or 0.9 per cent, to 6697.2 on Monday.
The All Ordinaries closed down 64.7 points, or 0.92 per cent, at 6959.5.
Most sectors were lower, and information technology fared worst, down 2.24 per cent.
The US dollar has steadied against most currencies after the Democrats secured control of US Congress last week, prompting expectations that more economic stimulus will lead to inflation.
The Aussie dollar was buying 76.95 US cents at 1622 AEDT, lower from 77.71 US cents at the close of trade on Friday.