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The Australian share market is expected to open lower after losses on Wall Street overnight.

The SPI200 futures contract was down 36 points, or 0.55 per cent, at 6,558.0 at 0800 AEST, suggesting an early slump for the benchmark S&P/ASX200 on Wednesday.

On Wall Street, the Dow Jones Industrial Average finished down 0.67 per cent, the S&P 500 was down 0.95 per cent and the tech-heavy Nasdaq Composite was down 1.51 per cent.

The Aussie dollar is buying 69.61 US cents from 69.60 US cents on Tuesday.