The Australian sharemarket has lost early ground in the final session of the decade, with all sectors running red as $20 billion was wiped off within the first 15 minutes of trade.

The benchmark S&P/ASX200 index opened more than 50 points down and has continued to tumble in early trade. At 11:30am AEDT, the ASX200 is 86 points, or 1.3 per cent lower, at 6718.7. The ASX had been tipped to close out the year with another session of losses as Wall Street continues to pull back from record highs amid thin holiday trade.

The ASX has fallen across the board. Credit:Peter Braig

Tech stocks, consumer staples, health care, utilities and industrials each suffered percentage-plus losses in early trade, while the heavyweight mining and financial sectors were also in retreat.

BHP was down 0.76 per cent to $39.12 and Rio Tinto fell 0.53 per cent to $101.06.