As it happened: ASX falls sharply as fallout continues from Trump tariffs; worst trading day on Wall Street since 2020 as $2.4 trillion wiped

Thanks for reading our rolling federal election blog. This is where we’ll end today’s coverage.

To conclude, here’s a look back at the day’s major stories:

• The PM and Peter Dutton crossed paths in Sydney today as the pair campaigned to win votes in the city’s west.
• Anthony Albanese just told ABC Radio that a Labor government would enter negotiations to buy back the Port of Darwin and suggested Peter Dutton would soon make an announcement about the Coalition’s plans for Chinese-owned Landbridge Group’s controversial 99-year lease.
• The Australian sharemarket has closed at its lowest level in eight months with more than $96 billion wiped from its top 500 stocks.
• Jim Chalmers’ and Katy Gallagher’s press conference in Perth was disrupted by two separate protesters who snuck into the event masquerading as journalists in high-vis vests.
• Top former biosecurity officials have rejected claims by American farmers and the Trump administration that Australia uses strict biosecurity rules unfairly to help our farmers and block US beef imports

Our live coverage will resume before 9am tomorrow AEDT.

Thanks for your company. Have a good night.

Anthony Albanese has announced that he wants to get the Port of Darwin “back into Australian hands”, declaring he wants to see the end of the Chinese-owned Landbridge Group’s 99-year lease of the port.

“We’ve been working on this for some time,” Albanese said of the government’s plan, describing the port as a “strategic asset”.

Albanese said the government would enter into negotiations to buy back the port, saying he would be prepared to directly intervene to buy the port if a private buyer cannot be found.

He said he was hopeful that an Australian superannuation fund may take over the lease.

Pressed for detail by the local ABC host, who said she was confused by Albanese’s announcement, the prime minister said he would have more to say about the issue later in the campaign. He suggested he was trying to pre-empt an announcement on the port by Opposition Leader Peter Dutton, who is travelling to Darwin.

Prime Minister Anthony Albanese is calling into ABC Darwin to make what has been flagged as a major announcement on the Port of Darwin.

The port has been leased by the Chinese-owned Landbridge Group under a controversial 99-year deal reached in 2015.

Stay tuned.

Between Donald Trump’s blitz of “self-destructive” tariffs, Anthony Albanese’s slip off a stage and the Australian Electoral Commission investigating and swiftly clearing influencer Abbie Chatfield of wrongdoing, it’s difficult to know where to look since the prime minister visited the Governor-General to call the election one week ago.

It’s been seven days of promises and mud-slinging from Albanese and Peter Dutton since then. Here’s the week that was on the campaign trail, fact-checked.

It’s been a week of a federal election heavily dominated by world politics. Here’s what Adam Bandt, Peter Dutton and Anthony Albanese have been saying, and if it’s true.Credit: Alex Ellinghausen/James Brickwood

Grocery prices have indeed risen, but not by 30 per cent as Peter Dutton repeatedly claimed

Dutton reiterated twice on 2GB on Sunday that household grocery bills have swelled by 30 per cent under Albanese’s leadership. But that figure does not align with the Australian Bureau of Statistics’ data, which shows non-alcoholic beverages and food have climbed by almost half of Dutton’s quoted amount, up 14 per cent over Labor’s term.

Read the full story here.

Petro Georgiou, among the last of the tough-minded small “l” Liberals and a man known among many as the “conscience of the Liberal Party”, has died aged 77.

He spent his parliamentary career, from 1994 to 2010, sitting on the backbench, becoming famous for standing up to Liberal prime minister John Howard on human rights.

He refused an early offer to join Howard’s frontbench, making it clear he put a higher value on exercising his freedom to oppose the party’s hardline policies, particularly towards asylum seekers.

As member for the blue ribbon Melbourne electorate of Kooyong – famously the seat of his old political hero, Liberal Party founder Sir Robert Menzies, and now held by a teal – Georgiou was a voice for diversity and considered a champion of Indigenous Australians, underdogs and outsiders.

Read the full story here.

The opposition leader was out in western Sydney earlier today as he promoted the Coalition’s plan to cut the fuel excise by half for the next 12 months.

Our reporter Natassia Chrysanthos was at the petrol station in North Carlingford – within the electorate of Parramatta – alongside Peter Dutton. Watch her recap below:

The Australian sharemarket has just closed at its lowest level in eight months with more than $96 billion wiped from its top 500 stocks.

The S&P/ASX200 on Friday sank 188.9 points, or 2.4 per cent, to 7670.8, while the broader All Ordinaries tanked 202.5 points, or 2.51 per cent, to 7850.2.

“Horrendous. Horrendous is the way we’ve ended up today,” IG Markets analyst Tony Sycamore told AAP.

“It’s an absolute bloodbath out there.”

More than $96 billion was wiped from the All Ordinaries’ $2.8 trillion market cap since Thursday, with the top 500 stocks shedding 3.5 per cent of their value in two sessions.

The Australian dollar gave up early gains against the greenback and was buying US62.36 cents, down from US62.72 cents on Thursday at 5pm.

AAP

The failure of the prime minister and foreign minister to call out a mass grave of humanitarian workers in Gaza has sparked outrage as it’s branded a double standard.

A mass grave of 15 aid workers was found next to their marked aid vehicles after they were shot by the Israeli military, according to the United Nations, with a survivor saying Israeli forces killed both his ambulance crew.

The UN’s Jonathan Whittal said the rescue workers were killed in their uniforms on the way to save lives.Credit: X/@_jwhittal

The mangled ambulances were reportedly ploughed over by military bulldozers, with the bodies found nine days after the workers went missing.

Israel said troops opened fire because they were approached “suspiciously” by unidentified vehicles.

No statements have been issued by Anthony Albanese or Penny Wong despite Australia spearheading an initiative to protect international humanitarian workers. Senator Wong’s office declined to comment after three days of repeated requests.

The opposition has also been silent.

Ziad Basyouny, who is running as an independent in the western Sydney seat of Watson against Labor’s Tony Burke, said the lack of condemnation highlighted his point about the double standard of Palestinian human rights Labor had ignored during the war in Gaza.

When allegations surfaced that United Nations Relief and Works Agency for Palestine Refugees staff had been involved in the October 7 Hamas attack on Israel, there was an instantaneous response as Australia suspended funding and called for details, he said.

“We have confirmed reports from an aid worker organisation ... but we are hearing crickets,” Dr Basyouny told AAP.

“Selective moral outrage is not a way to implement justice or address injustices people are feeling.”

AAP

An election ad from Clive Palmer’s Trumpet of Patriots political party has been removed by Google for a policy violation, but only after being shown more than 10 million times to Australians across a two-week period.

The ad, which featured a segment from a two-decade-old documentary, was said to expose “the truth about climate change”, said the party that spent up to $200,000 promoting it before it was taken down.

Earlier this week, climate scientist at the University of Melbourne David Karoly told the ABC’s News Verify team the ad contained misleading information and claims about climate change.

But it remained available online and was being shown to Australians on the mass-market video platform.

It shows a four-minute snippet from the film Doomsday Called Off, released in 2004 by Danish documentary director Lars Oxfeldt Mortensen. While the video has been blocked by Google to be used as political advertising, it remains available to view on the Trumpet of Patriots’ main YouTube page and on its website.

Read the full story here.