Investors are worried that lofty stock valuations are close to a tipping point as the global bond market sell-off infects sentiment.

Shares fall; Oil pushes toward $US100 a barrel amid Middle East tensions; Austal pops 7pc; China’s DeepSeek taps CITIC Securities for IPO. Follow live.

Rising oil prices have worsened worries about the high inflation weighing on consumers and companies with the Reserve Bank under increasing pressure to raise rates.