The local share market has dropped after Iran launched a reprisal drone strike on Israel, raising fears the conflict could spiral into a broader regional war.
The benchmark S&P/ASX200 index on Monday dropped 35.6 points, or 0.46 per cent, to a nearly four-week low of 7,752.5, while the broader All Ordinaries fell 40.8 points, or 0.51 per cent, to 8,009.4.
The Australian dollar was back under 65 US cents for the first time in two weeks, buying 64.93 US cents, from 65.14 US cents at Friday's ASX close.