Investors have smashed retailers in a further sign that demand is softening. -AAP Image
The local share market has slumped to its biggest loss in two weeks as investors brace for political uncertainty and unfriendly economic data ahead.
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The benchmark S&P/ASX200 index on Monday dropped 48.4 points, or 0.8 per cent, to 7,733.7, while the broader All Ordinaries fell 64.8 points, or 0.81 per cent, to 7,975.1.
With annual inflation predicted to show a slight increase to 3.8 per cent in the Australian Bureau of Statistics' May consumer price index readout on Wednesday, traders sold off shares across the board.
Only the industrials sector was spared from the sell-off, gaining 0.71 per cent.
The Australian dollar was buying 66.40 US cents, from 66.64 US cents at Friday's ASX close.
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