The Australian stock market is notably lower on Friday, extending the losses in the previous session, with the benchmark S&P/ASX 200 falling below the 7,200 level, following the broadly negative cues from global markets overnight, with weakness across most sectors, led by technology, financial and gold miner stocks, as rising concerns about global economic growth due to surging interest rates dented sentiment.
The benchmark S&P/ASX 200 Index is losing 36.50 points or 0.51 percent to 7,168.30, after hitting a low of 7,117.60 earlier. The broader All Ordinaries Index is down 36.60 points or 0.50 percent to 7,353.70. Australian markets ended significantly lower on Thursday.
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