Australian shares dropped amid Middle East conflict and bushfires crisis

On Monday, Australian shares withdrew from record highs climbed in the previous market session. As investors were careful about longer-term risks of Middle East conflict, while the effect of deadly bushfires across the country darkened the mood.

The United States placed additional sanctions on Iran, as a consequence of its missile attack on U.S. troops in Iraq this week, and U.S rejected Iraq’s request to pull out its troo....