Aust stocks close 1.3% lower

The Australian sharemarket closed more than 1 per cent lower as nervous investors eye Wall Street falls, fresh Ukraine tensions and a possible fall in the Nikkei.

At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index lost 69.7 points, or 1.28 per cent, to 5,358.9 points, while the broader All Ordinaries index was down 69.9 points, or 1.29 per cent, at 5,5353.6 points.

IG chief markets strategist Chris Weston said those calling for a fall in global markets have a stronger argument as Ukraine tensions once again came to the fore and US bank JP Morgan missed expectations.

In Asia traders have been talking about the Nikkei today "with the technicals now shaping up for a fairly scary move lower", he said.