Aug 31 (Reuters) - Australian shares fell on Wednesday, dragged down by mining and energy stocks on weak commodity prices, while overnight Wall Street losses also weighed on sentiment amid rising fears of a global economic slowdown due to aggressive interest rate hikes.

The S&P/ASX 200 index fell 0.37% to 6,972.6 by 0118 GMT. The benchmark closed 0.5% higher on Tuesday.

World stocks tumbled overnight, as investors worried about continued U.S. and European interest rate hikes, while data in the U.S. showed a rise in job openings, fuelling fears the Federal Reserve has another reason to maintain its aggressive path of rate hikes.

Energy stocks were the top losers on the Australian benchmark index, shedding 2.9% after oil prices slipped overnight on fears that fuel demand could soften as global central banks hike rates to fight surging inflation, and unrest in Iraq failed to dent the OPEC nation's crude exports.

Sector leaders Woodside Energy and Santos dropped 4% and 2.9%, respectively, with Woodside eyeing its worst day since July 21.

Export-reliant miners slipped 1.6% as iron ore futures tumbled amid renewed worries over COVID-19 curbs and steel output restrictions in top producer China.

Sector behemoths BHP, Rio Tinto and Fortescue Metals shed between 2.1% and 4.5%.

Financials were up 0.3%, paring losses made in early trade, with three of the so-called "Big Four" banks rising above 0.5% each.

Among individual stocks, Australian gambling firm PointsBet Holdings fell 10.9%, its biggest drop in a month after reporting a widened net loss of A$267.7 million ($183.56 million) in fiscal 2022, from a loss of A$188.7 million a year ago.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index fell 0.14% to 11,632.8.

($1 = 1.4584 Australian dollars) (Reporting by Riya Sharma in Bengaluru; Editing by Rashmi Aich)