The sharemarket closed in the red on Friday, and has fallen for three of the past four weeks after reporting season pointed to a patchy economy.

Australia’s sharemarket has closed sharply lower as escalation in the Middle East and worries about inflation weigh on investor confidence.

Australian shares closed higher for the first time this week as inflation and bond market jitters eased.

The sharemarket closed in the red on Friday, and has fallen for three of the past four weeks after reporting season pointed to a patchy economy.