'Sea of red': worst day for ASX in more than four years

Every ASX sector traded in the red on Monday as the market plunged. (Dan Himbrechts/AAP PHOTOS)

The Australian share market has suffered its worst day in more than four years as rising fears of a US recession sparked global panic selling.

The benchmark S&P/ASX200 index on Monday dropped 293.6 points, or 3.7 per cent, to 7,649.6 - its biggest single day fall since May 2020.