Australian shares have crumbled from four-month highs, as surging US bond yields and renewed oil volatility overshadowed a recently softening local interest rate outlook.
The S&P/ASX200 dropped 74.1 points on Thursday, down 0.82 per cent, to 8,964.5, as the broader All Ordinaries fell 77 points, or 0.84 per cent, to 9,122.7.
