<?xml version="1.0" encoding="ISO-8859-1"?> <docID>328389</docID> <postdate>2024-09-04 16:40:23</postdate> <headline>Australian shares plunge as fears rise over US outlook</headline> <body><p><img class="size-full wp-image-328390" src="https://citynews.com.au/wp-content/uploads/2024/09/20200310001454801991-original-resized.jpg" alt="" width="900" height="600" /></p> <caption>Every sector of the local share market finished lower on Wednesday. (Joel Carrett/AAP PHOTOS)</caption> <p><span class="kicker-line">By <strong>Derek Rose</strong> in Sydney</span></p> <p><strong>The local share market has plunged on renewed concerns about the health of the world's largest economy.</strong></p> <p>The benchmark S&P/ASX200 index on Wednesday finished down 152.7 points, or 1.88 per cent, to a nearly three-week low of 7950.5, while the broader All Ordinaries dropped 165.7 points, or 1.99 per cent, to 8157.0.</p> <p>In currency, the Australian dollar had dropped to a two-week low, buying 67.03 US cents, from 67.43 US cents at Tuesday's ASX close.</p> </body>