SYDNEY, AAP – Australia’s share market has had its heaviest percentage fall since early September after steep losses on Wall Street.

The S&P/ASX200 benchmark index closed lower by 160.7 points, or 2.35 per cent, to 6673.3 on Friday.

The All Ordinaries closed lower by 165.1 points, or 2.32 per cent, at 6940.6.

All sectors were lower, and the major sectors of materials and financials fell by more than two per cent.

The ASX200 fell 1.77 per cent for the week, and was down for a third consecutive week.

The index gained one per cent during February.

The Australian dollar was buying 78.32 US cents at 1621 AEDT, lower from 79.71 US cents at Thursday’s close.