The volatile Australian share market has plunged 1.7 per cent, repeating a familiar pattern as it trades in a fairly tight range.

The S&P/ASX200 benchmark index finished on the day’s lows to close Thursday down 93.2 points, or 1.72 per cent, to 5,328.7 points, while the All Ordinaries index closed down 95.7 points, or 1.74 per cent lower, at 5,418.

The Australian dollar was buying 64.37 US cents, from 64.70 US cents at the close of trade on Wednesday.