SYDNEY, AAP – Australia’s share market had its biggest loss since September after Wall Street markets sunk following US Federal Reserve concerns about its economy’s recovery.
The S&P/ASX200 benchmark index closed lower by 130.9 points, or 1.93 per cent, to 6649.7 on Thursday.
The decline was the biggest since a 2.29 per cent loss on September 30.
The All Ordinaries closed down 142.6 points, or 2.02 per cent, at 6917.6.
All sectors but one were lower. Information technology lost the most, 4.76 per cent. Utilities rose 0.27 per cent.
US markets dropped after Federal Reserve chair Jerome Powell said the bank will keep pursuing low interest rate policies, and acknowledged the economy faltered in recent months.
The Aussie dollar was buying 76.34 US cents at 1616 AEDT, lower from 77.36 US cents at Wednesday’s close.