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

The SPI200 futures contract was down 54 points, or 0.86 per cent, at 6,243.0 at 0700 AEST, suggesting a negative start for the benchmark S&P/ASX200 on Tuesday.

On Wall Street, the Dow Jones Industrial Average was down 2.38 per cent, the S&P 500 was down 2.41 per cent and the tech-heavy Nasdaq Composite was down 3.41 per cent.

The Aussie dollar is buying 69.45 US cents from 69.75 US cents on Monday.