ASX 200: ANZ's strategy reveal; TWE withdraws Penfolds guidance; US-China tariff seesaw
ANZ CEO Nuno Matos's big balancing act. Penfolds winemaker flags China, US uncertainty. Chalmers' super tax backflip. Dicker Data defends not telling investors about cofounder CEO's suspension. 'Don't worry about China, it will all be fine': Trump.
That's all from the Trading Day blog for Monday, October 13. The ASX 200 ended down 0.8 per cent at 8,882.8 points on trade war jitters. All sectors fell except property. ANZ soared on cost out. Treasury Wine dived after pulling its profit guidance.
US President Donald Trump's Truth Social post last week about cancelling a planned meeting with China’s president in response to its rare earth exports restrictions created havoc on Wall Street on Friday.
The S&P 500 and Nasdaq indexes wiped out the week's gains in a single session - the worst day since April - falling 2.7 per cent and 3.6 per cent, respectively. The blue-chip Dow Jones Industrial Average fell 900 points, or about 2 per cent.
But since then, Trump has declared: 'Don't worry about China, all will be fine'.
Cryptocurrency giant bitcoin has rebounded near $US115,400.
The Aussie dollar is trading near US65.25c.
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