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ASX headed for bear market as ‘profit recession’ looms

Alex Gluyas

Australian shares are careering towards a bear market as US President Donald Trump’s trade war starts to hit the bottom line of ASX-listed companies and central banks delay cutting interest rates, delivering a fresh blow to valuations.

That’s according to advisory firm MST Marquee, which expects the world’s largest economy to tip into a recession, delivering a reality check to local earnings forecasts which it warns are still far too high.

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Alex Gluyas is deputy markets editor based in the Melbourne newsroom. Connect with Alex on Twitter. Email Alex at alex.gluyas@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/asx-headed-for-bear-market-as-profit-recession-looms-20250422-p5ltcf