SYDNEY, AAP – Technology companies have been punished amid widespread losses on the Australian share market.

Information technology shares fell 3.6 per cent in the wake of concerns in the US about interest rate rises.

The benchmark S&P/ASX200 index closed lower by 34.1 points, or 0.48 per cent, to 7061.7 on Thursday.

The All Ordinaries closed down by 38.2 points, or 0.52 per cent, to 7306 points.

The Australian dollar was buying 77.41 US cents at 1619 AEST, higher from 77.17 US cents at Wednesday’s close.