Sydney  - A fall on Wall Street undermined Australian stocks Friday, taking the bellwether index down 2.3 per cent.

The ASX 200 gave up 98 points to finish the session at 4,149.

Westpac currency strategist Robert Rennie said the slowdown in the United States was bearing down on the local market.

"When you look out the windscreen and see what's coming towards you in the US, it really feels as if it could be truly horrible," he told The Sydney Morning Herald. (dpa)