Aust shares plunge 1.8 pct in worst loss in a year

The Australian share market has suffered its worst single-day loss since March 10, 2023. (Steven Saphore/AAP PHOTOS)

The local share market has suffered its worst single-day drop in a little more than a year as traders took money off the table following weeks of gains and ahead of another important US inflation readout.

The benchmark S&P/ASX200 finished near the lows of the day on Monday, down 142.8 points, or 1.82 per cent, to 7,704.2, while the All Ordinaries fell 143.9 points, or 1.77 per cent, to 7,963.6.