ASX 200 live: Trump address in focus as tariff fights begin in Canada, Mexico, China; modest GDP growth; Tropical Cyclone Alfred looms
'America's momentum is back': Trump. Virgin names new CEO. Wong says 'hill to climb' on US tariffs. GDP data shows modest green shoots. China sets new growth, deficit goals. Cyclone Alfred looms.
Welcome to the Trading Day blog for Wednesday, March 5. The ASX 200 index closed 0.7 per cent lower to 8141.10 points, led by banking falls. Consumer staples are weighed down by majors Coles and Woolworths trading ex-dividend.
Wall Street's indexes were smashed as new tariffs on Canada, Mexico and China kicked in. The S&P 500 and Dow Jones indexes closed 1.4 per cent and 1.8 per cent lower, respectively, while the technology-focused Nasdaq swung into the red late in the session with its 0.6 per cent drop.
Cryptocurrency giant bitcoin was trading above $US87,000 at 5pm AEDT.
The Aussie dollar was trading around US62.54c.
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