US stocks rebounded on Friday as investors hunted for bargains at the end of a tumultuous week in which US president Donald Trump's escalating trade war fuelled recession fears and doused risk appetite.
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.
