The Australian share market suffered its worst session in seven weeks as US-Iran escalation triggered broad-based selling across all sectors. Financials led declines while energy stocks fell despite rising oil prices. Macquarie Group outperformed with record earnings, while Tabcorp plunged on regulatory concerns. Investors await the federal budget next week and CBA results.

Steve Daghlian and Laura Besarati are Market Analysts at CommSec. Each episode, they break down the day's market movements and explain what the numbers really mean.

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