The Australian share market has suffered losses across the board, with $60 billion in value wiped out in the local bourse’s worst day in six months.

The benchmark S&P/ASX200 index closed Monday down 160.7 points, or 2.25 per cent, to 6,978.3, while broader All Ordinaries index was closed down 165 points, or 2.28 per cent, at 7,065.4.

The Aussie dollar was buying 66.07 US cents, up from 65.99 US cents on Friday.