Australian shares at two-month low as Mideast heats up

The Australian share market has slumped to its lowest level since February. (Steven Saphore/AAP PHOTOS)

The local share market has slumped to its lowest level since February as the spectre of a broader Middle East conflict spooks investors.

The benchmark S&P/ASX200 index on Friday finished down 74.8 points, or 0.98 per cent, to 7,567.3, a weekly loss of 2.8 per cent.