Sea of red for miners, metals as Aussie market slumps

The Australian share market is experiencing its worst week since the US-Iran war began, with surging oil prices pressuring bond yields and central banks to hike borrowing costs.

The benchmark S&P/ASX200 index fell 112.2 points by midday on Friday, down 1.27% to 8,707.2, with the All Ordinaries tumbling 120 points, or 1.33%, to 8,888.3.