Yesterday, the Australian share market fell 70 points (1.75 per cent) to 3,993, with virtually all the major stocks down.
CommSec analyst Craig James says US and Australian investors are liquidating stock because of fears about the global economy and falling commodity prices.
He says the Australian market is likely to lose up to 2 per cent when trading resumes on Monday.
"This is a healthy correction for the Australian share market," Mr James said.
"It will add a little bit more value for investors and for those investors looking for the longer term, it does represent a wonderful buying opportunity."
