Australian shares have have plunged into correction territory, as Donald Trump's tariffs pour fuel on the embers of an increasingly likely global economic slowdown.
The Australian share market recovered ground from an early-session plunge but still finished the day lower after US recession fears and a Wall St sell-off sent investors ducking for cover.
The US stock market's sell-off cut deeper overnight as Wall Street questioned how much pain president Donald Trump will let the economy endure through tariffs and other policies in order to get what he wants.
The Australian share market has staged a modest comeback after a week of declines, but all eyes are on how Donald Trump's new tariffs on steel and aluminium unfold.
US stocks ended the week higher, rebounding from early declines after Federal Reserve chair Jerome Powell said the economy was "in a good place," but uncertainty about US trade policy led to Wall Street's biggest weekly decline in months.
The Australian share market has fallen to its lowest level since towards the end of 2024 as uncertainty over global trade sends investors ducking for cover.
Wall Street stocks finished lower overnight, with the Nasdaq confirming it has been in a correction since December, weighed down by market jitters over the current uncertainty surrounding US trade policy.
Wall Street's main indexes finished higher in choppy trading overnight as investors cheered the likely easing of trade tensions between the US and major trading partners.
A trade war between the US and its three biggest trading partners is set to expand, sending jitters through markets as impacts and tit-for-tat paybacks unfold.
Stocks racked up more losses on Wall Street overnight as a trade war between the US and its key trading partners escalated, wiping out all the gains since Election Day for the S&P 500.
The Australian share market has closed lower as US tariffs on its biggest trading partners and plans to cut military aid to Ukraine generate uncertainty.
Wall Street's main stock indexes closed sharply lower overnight after US president Donald Trump announced the start of 25 per cent tariffs on Canada and Mexico.
The S&P 500 and Nasdaq have ended sharply lower overnight, weighed down by a slump in chipmaker Nvidia after its quarterly report failed to rekindle Wall Street's AI rally.
The ASX200 has finished up 0.3 per cent following better-than-expected earnings from Coles, Qantas, Medibank Private, Ramsay Health Care and Eagers Automotive.
The ASX has fallen for a seventh day of losses out of the last eight sessions, even as domestic monthly inflation figures came in slightly under expectations.
Some of Wall Street's brightest stars lost more of their shine overnight after another report said US households are getting more pessimistic about the economy.
