Indications that Donald Trump could win next week's US presidential election have caused a tumble on world share markets, and the local market is no exception.
The share market continues to slide as the US presidential race tightens, with most sectors hit by selling.
The benchmark S&P/ASX 200 index was down 0.79 per cent at 1200 AEDT, with financial and energy stocks the worst performers.
Energy stocks slipped after oil prices settled one per cent lower, with Santos down 2.4 per cent, Oil Search down 2.4 per cent and Woodside 0.9 per cent lower.
Among the major banks, ANZ was down 1.3 per cent, National Australia Bank was down 1.2 per cent, Westpac had shed one per cent and Commonwealth Bank was 0.9 per cent lower.
Wall Street's S&P 500 index hit a four month low overnight as polls show Donald Trump and Hillary Clinton are in tight race for the White House, and investors have been factoring in a Clinton victory.
Elsewhere on the local market, mining shares were a rare source of gains, with BHP Billiton up 0.2 per cent , Rio Tinto up 0.3 per cent and gold miner Newcrest 1.7 per cent stronger.
Telstra was 0.4 per cent higher.
KEY FACTS:
* At 1200 AEDT, the benchmark S&P/ASX 200 index was down 41.9 points, or 0.79 per cent, at 5,248.6 points.
* The broader All Ordinaries index was down 43 points, or 0.8 per cent, at 5,332.2 points.
* The December share price index futures contract was down 40 points at 5,222 points, with16,603 contracts traded.
* National turnover was 890 million securities traded, worth $1.5 billion.
