SYDNEY — The Australian stock market extended its losing streak Friday, with the benchmark S&P/ASX 200 index closing at 8,428.40, down 69.40 points or 0.82%, marking a fresh four-month low and its third consecutive weekly decline.
The close came after a volatile week dominated by escalating Middle East conflict, surging oil prices, tumbling commodity values and renewed fears of higher interest rates from major central banks. Since early March, when the index peaked near 9,200, the ASX 200 has shed more than 8%, wiping out year-to-date gains and erasing hundreds of billions in market value.
