The Australian sharemarket has jumped higher at the open as pressure from the bond market eased overnight and oil prices fell after President Donald Trump said the US is in the “final stages” of its war with Iran.

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.

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.