Australian stock market sheds $40bn in year-ending slump

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The Australian share market has suffered its worst day in four weeks in the final session of the decade, with all sectors deep in the red as $40 billion in value was lost.

The benchmark S&P/ASX200 index closed this afternoon down 1.78 per cent to 6,684.1 points, while the broader All Ordinaries 1.72 per cent to 6,802.4 points.

The Aussie dollar is buying 70.03 US cents, from 69.76 US cents on Monday, having moved within touching distance of a new five-month high overnight.

MORE TO COME

— AAP

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