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AAP
AAP
Business
Adrian Black

BIZARRE: Australian shares resume slide after wall street dump - What They Never Told You

Australia's benchmark index shed 1.59 per cent on Friday, with shares notching another weekly loss. (Paul Miller/AAP PHOTOS)

Australia's share market has crumbled to its lowest level since June, as concerns about stretched valuations meet a reduced outlook for interest rate cuts.

The benchmark S&P/ASX200 lost 136.2 points on Friday, down 1.59 per cent, to 8,416.5, as the broader All Ordinaries fell 147.7 points, or 1.67 per cent, to 8,686.3.

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