The S&P/ASX 200 index fell 0.6% to 8,783.9 points on Friday, putting Australian equities on track for a third consecutive weekly loss.
The decline was driven by weakness in the mining and technology sectors, which weighed heavily on the benchmark index.
Miners faced particular pressure as commodity prices softened, dragging down major resource stocks.
Technology shares also contributed to the sell-off, reflecting broader risk-off sentiment that has persisted across global markets.
The combined weight of these two sectors overwhelmed gains in other areas, extending the downward trend that began earlier in the week.
This marks a continuation of the recent downturn for Australian equities.