US stocks have finished lower with technology names tumbling the most after the market snubbed a Facebook acquisition announcement and King Digital's first day of trade as a public company.
The Australian dollar has hit a four-month high, helped by continuing speculation that the Chinese central bank will take action to stimulate its economy.
A second straight sell-off of popular technology shares has dragged US stocks lower, as tensions with Russia over Ukraine continue to keep investors on edge.
Cheap funds and signs of US economic strength after a lull kept Wall Street buyers cautiously in action this week, despite the Ukraine crisis and the Fed's interest rates misfire.
The Australian dollar is starting to bounce back from its post Federal Reserve meeting fall, getting a boost from some mildly encouraging US economic data.
US stocks have dropped after Federal Reserve Chair Janet Yellen offered a rough timetable for when the central bank could raise benchmark interest rates.
The Australian dollar has regained some ground after falling more than one US cent following the Federal Reserve's announcement it would keep winding back its bond-buying program, designed to stimulate the US economy.
The Australian share market has closed higher as global markets rallied on the back of encouraging US factory production figures and relief that sanctions imposed on Russia after the Crimea vote were not too severe.
