The Australian sharemarket lost ground on opening as the price of oil shot to its highest level since May.

The Australian sharemarket advanced in early trade after Wall Street waded back into makers of computer chips and other winners of the artificial-intelligence boom, shrugging off…

ASX futures down; S&P 500 sheds more than 1pc; mag seven shred $1 trillion of value as Tesla tumbles 14pc, Alphabet drops 6pc. Follow live.