ASX back on the ropes as China retailates to US tariffs; UBS upgrades News, cuts Nine

Australian stocks end flat, Aussie dollar dives 0.9 per cent as rebounds halted after US tariffs on China go ahead and China retaliates. Woolworths, Westpac announce leadership changes. Nine remains in 'difficult position': UBS.

US President Donald Trump's aggressive trade moves sent markets into a tailspin on Monday. Picture: Gaye Gerard

That's all from the Trading Day blog for Tuesday February 4. The ASX 200 rebounded from its worst day in six months as the US gave Mexico and Canada  but it only gave fleeting support as US tariffs on China go ahead and China immediately retaliates with a range of tariffs, export curbs and a Google probe.

Cryptocurrency market leader bitcoin is trading about $US100,000.

Gold hits a new record high of $US,830.74.

The Aussie dollar is trading around US61.89c.

Originally published as ASX back on the ropes as China retailates to US tariffs; UBS upgrades News, cuts Nine