The Australian share market has fallen sharply, in line with other global markets, due to concerns about delays for Donald Trump's health and tax policies.

Weakness from the major miners and banks have offset gains from retailers and healthcare product makers to push the ASX slightly lower.

Strength coming from the financial sector, in particular the big four banks, has led the Australian share market higher.

The Aussie dollar has surged against the US dollar, even as the latest jobs data had a negative impact on the share market.

The share market has closed stronger for a second straight day, but only after a late recovery thanks to investor demand for mining stocks.

The share market has lost most of its early gains to end the day steady.