The energy and financial sectors were the biggest losers, down 2.1 and 1.5 per cent. -AAP Image
The local share market has dropped sharply for a second day in a row, hitting its lowest levels since March, as worries about United States banks drag on financial markets worldwide.
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The benchmark S&P/ASX200 index on Wednesday finished down 70 points, or 0.96 per cent, to 7,197.4, its lowest close since March 31. The broader All Ordinaries fell 70.8 points, or 0.95 per cent, to 7,389.
The Australian dollar was buying 66.67 US cents, from 67.06 US cents at Tuesday's ASX close.
