Aussie market down 1 percent as investors take caution

The Australian market continued its selloff throughout Friday as investors exercised caution ahead of key market events in the United States and Europe.

The benchmark S&P/ASX index was down 56.02 points or 1.02 percent at 5,444.00 points, while the broader All Ordinaries index was down 57.80 points or 1.04 percent at 5,502.60 points.

"This is caution ahead of the Italian referendum (on constitutional reform)... and that comes against the background of markets (having) quite a good run, making the risks elevated," CMC Markets chief market analyst Ric Spooner told Xinhua.

Investors are also eyeing key U.S. non-farm payrolls data overnight, which if it comes below consensus, could slow the momentum in global markets.

ANZ fell 0.77 percent, the Commonwealth Bank of Australia lost 1.17 percent, the National Australia Bank fell 1.06 percent and Westpac lost 0.98 percent.

BHP Billiton shed 2.30 percent, rival Rio Tinto slid 1.12 percent, and gold miner Newcrest slipped 0.11 percent.

Oil Search dipped 0.14 percent, Santos dove 0.46 percent and Woodside Petroleum was 1.90 percent weaker.

Wesfarmers and rival Woolworths tumbled 1.52 percent and 0.86 percent respectively.

Qantas lifted 1.24 percent, but Telstra was down 1.00 percent. Endit