Australian shares finished lower after a setback to hopes for a US interest rate cut. -AAP Image
The Australian share market has dropped across the board with its worst losses in more than three weeks as hopes fade for midyear interest rate cuts.
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The benchmark S&P/ASX200 index on Friday fell 84.2 points, or 1.08 per cent, at 7,727.6, while the broader All Ordinaries dropped 83.9 points, or 1.04 per cent, to 7,999.2.
The ASX200 fell 1.11 per cent for the week, having suffered losses every day this week except Monday, for its first weekly loss since the week ending April 19.
The Australian dollar was buying 65.99 US cents, from 66.28 US cents at Thursday's ASX close.
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