Renewed conflict in the Persian Gulf is weighing on Australia's share market in the final session of the week, rattling a fragile truce and hitting investor confidence.
The S&P/ASX200 fell 143.6 points by midday, down 1.62 per cent, to 8,734.5, as the broader All Ordinaries lost 137 points, or 1.5 per cent, to 8,970.7.
The local market had rallied over the past two sessions on hopes of de-escalation of the US conflict with Iran, but a firm peace deal looks elusive, IG market analyst Tony Sycamore said.
