Billions of dollars were wiped off the ASX today, as interest rates and surging oil prices spooked investors.

Shares fall; Select Harvests eyes near record crop; consumer sentiment slides; Goldman Sachs lifts oil forecasts; Brent above $US98. Follow live.

The Australian sharemarket slumped to a six-week low on Tuesday, with investors bracing for higher interest rates as the Middle East conflict continues to push up fuel costs.