The local share market has fallen to a seven-week low as fears of aggressive interest rate hikes weigh on sentiment.
The benchmark S&P/ASX200 index on Wednesday finished down 97.2 points, or 1.42 per cent, to 6729.3, its lowest close since July 19.
The broader All Ordinaries had dropped 96.6 points, or 1.37 per cent, to 6959.3.
Meanwhile the Australian dollar had hit a two-year low against the surging greenback.
The Aussie was buying 67.16 US cents, from 67.92 US cents at Tuesday's close.