The Australian sharemarket has fallen at the open as higher oil prices and growing inflation concerns sent a shiver through the bond market over the weekend.

Financial stocks, which suffered sharp losses after changes to negative gearing and capital gains tax were announced in the budget, bounced higher.

The Australian sharemarket has fallen at the open as higher oil prices and growing inflation concerns sent a shiver through the bond market over the weekend.

The US stock market fell from its records on Friday and joined a worldwide drop for stocks after higher oil prices sent a shiver through the bond market.

Australian markets are set to begin the week in negative territory, with ASX 200 futures pointing to a drop of around 0.1 per cent on Monday after both US indexes fell sharply…

The Australian sharemarket has fallen to a seven week low as oil prices weigh heavy on miners and industrial companies.