President Joe Biden has withdrawn from the US election with Kamala Harris now the likely candidate. -AP
The local share market has suffered its third-straight day of losses, falling to an 11-day low amid President Joe Biden's decision to withdraw from the US election, as well as increased fighting in the Middle East and a global IT outage.
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The benchmark S&P/ASX200 index on Monday finished down 39.9 points, or 0.5 per cent, to 7,931.7, its lowest finish since July 11. The broader All Ordinaries dropped 42.8 points, or 0.52 per cent, to 8,166.4.
The Australian dollar had dropped to a three-week low, buying 66.64 US cents, from 67.00 US cents at Friday's ASX close.
