The Australian share market is down almost 1.2 per cent in early trade, dragged down by a sharp plunge on Wall Street overnight.

The ASX200 hit a four-month low for the Australian market , opening 0.8 per cent down after shaving 64.8 points to hit 8571.6.

The US stock market sank overnight as Nvidia and other "superstar" stocks created by the frenzy around artificial intelligence technology dimmed some more.

In the US, the S&P 500 fell 0.9 per cent and pulled further from its all-time high set late last month.

The Dow Jones Industrial Average dropped 557 points, or 1.2 per cent, and the Nasdaq composite sank 0.8 per cent.

Nvidia was the heaviest weight on the market, as it’s often been in its last couple of tumultuous weeks. The chip company fell 1.8 per cent, while losses

See Full Page