(fxcue news) - The Australian stock market is significantly lower on Friday, extending the losses in the previous two sessions, following the broadly negative cues from global markets overnight. The benchmark S&P/ASX 200 is falling to near the 8,100 level, with weakness across most sectors led by mining, financial and technology stocks. The benchmark S&P/ASX 200 Index is losing 78.70 points or 0.96 percent to 8,081.30, after hitting a low of 8,063.20 earlier. The broader All Ordinaries Index is down 80.10 points or 0.95 percent to 8,342.00. Australian markets ended modestly lower on Thursday. Among major miners, BHP Group and Fortescue Metals are losing almost 1 percent each, while Rio Tinto is edging down 0.1 percent and Mineral Resources is declining almost 2 percent. Oil stocks are mostly weak. Woodside Energy is gaining almost 1 percent, while Origin Energy is edging down 0.2 percent. Santos and Beach energy are flat. Among tech stocks, Afterpay owner Block is losing more than 1 percent, Zip is declining more than 2 percent and WiseTech Global Energy is edging down 0.2 percent, while Xero and Appen are down almost 2 percent each. Among the big four banks, Commonwealth Bank, ANZ Banking and Westpac are losing more than 1 percent each, while National Australia Bank is declining almost 2 percent. Gold miners are mostly lower. Evolution Mining is losing almost 3 percent, Northern Star Resources is down almost 2 percent, Newmont is declining 2.5 percent, Resolute Mining is slipping more than 3 percent and Gold Road Resources is sliding more than 1 percent. In economic news, the manufacturing sector in Australia continued to contract in October, albeit at a slower rate, the latest survey from Judo Bank revealed on Friday with a manufacturing PMI score of 47.3. That's up from 46.7 in September, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction. In the currency market, the Aussie dollar is trading at $0.657 on Friday. On Wall Street, stocks continued to see considerable weakness throughout the trading day on Thursday after moving sharply lower early in the session. The Nasdaq saw a particularly steep drop on the day amid a sell-off by technology stocks. The major averages saw further downside going into the close, ending the session near their worst levels of the day. The Nasdaq plunged 512.78 points or 2.8 percent to 18,095.15, the S&P 500 tumbled 108.22 points or 1.9 percent to 5,705.45 and the Dow slumped 378.08 points or 0.9 percent to 41,763.46. The major European markets also moved to the downside on the day. While the French CAC 40 Index slumped 1.1 percent, the German DAX Index slid by 0.9 percent and the U.K.'s FTSE 100 Index declined by 0.6 percent. Crude oil prices climbed higher on Thursday amid expectations of increased demand from the U.S. and a likely delay in OPEC's planned output increase from December. West Texas Intermediate Crude oil futures for December ended higher by $0.65 or 0.95 percent at $69.26 a barrel.