Aussie shares fall for second week as bond worries loom

The S&P/ASX200 has has dropped almost 2.5 per cent since resetting record highs in August. (Lukas Coch/AAP PHOTOS)

Australian shares have fallen for a second week amid high oil prices, US bond market concerns and a sell-off in local banks as housing market gloom persists.

The S&P/ASX200 fell 24.9 points on Friday, down 0.27 per cent, to 9,058.9, as the broader All Ordinaries lost 28.8 points, or 0.31 per cent, to 9,269.7.