The Australian share market is having its worst session in six months, with $50 billion wiped off so far. It comes after Wall Street finished in the red and oil prices passed $US101 a barrel. Follow live.

Australian shares to drop; Wall Street lower; US plan to triple debt buybacks fails to meet expectations; Apple slips as new iPhones unveiled. Follow live.

The Australian sharemarket has slumped to a fresh six-week low as crude oil traded above $US100 a barrel amid further escalation in the US war with Iran.