SYDNEY, June 15 (Xinhua) -- The Australian market is sharply lower on Thursday, with the materials sector and base metals under pressure.
At 10:25 (AEST), the S&P ASX/200 index fell 43.60 points or 0.75 percent at 5,790.40, while the broader All Ordinaries index was down 41.00 points or 0.70 percent at 5,821.20.
"A number of key commodities were smashed last night," CMC chief market strategist Michael McCarthy told Xinhua Thursday.
"Oil was down 3.5 percent, copper came off and also gold fell."
"Generally speaking a weaker U.S. dollar is supportive of higher commodity prices, so that's a real concern for the markets today."
Financial stocks and the energy sector have also weighed on the index this morning.
The Commonwealth Bank slipped 0.33 percent, Westpac Bank sank 1.63 percent, ANZ lost 1.33 percent and National Australia Bank plunged 1.32 percent.
BHP dived 3.04 percent, Rio Tinto slid 2.86 percent, Fortescue Metals slumped 2.36 percent and Newcrest Mining dropped 2.43 percent.
Woodside Petroleum was down 1.96 percent, Santos plummeted 3.14 percent and Oil Search tumbled 2.77 percent.
Wesfarmers dipped 0.34 percent and Woolworths edged lower at 0.08 percent.
Telstra gained 0.46 percent, Qantas lifted 0.37 percent and CSL fell 1.40 percent.
