The Australian share market has opened sharply lower.

At 1011 AEST on Friday, the benchmark S&P/ASX200 index was down 66.4 points, or 1.18 per cent, at 5,566.5, while the broader All Ordinaries index was down 66.5 points, or also 1.18 per cent, at 5,556.5.

On the ASX 24, the September share price index futures contract was down 58 points at 5,512, with 11,489 contracts traded.