Australian shares experienced their worst weekly performance in nearly a month, with the S&P/ASX 200 index closing 0.7% lower on Friday. The decline was influenced by escalating tensions between the US and Iran, alongside conflicting headlines from the Middle East. These developments unsettled investors, leading to profit-taking and a reassessment of risks related to elevated oil prices and geopolitical instability. The financial and resources sectors were notably affected, reflecting broader concerns about market volatility and economic uncertainty. This trend highlights the sensitivity of global markets to geopolitical events and commodity price fluctuations. Australian shares experienced their worst week in nearly a month, with the S&P/ASX 200 index closing down 0.7% on Friday.