ASX sinks again; Wall St seesaws as trade wars ignite; ASIC sues AusSuper
Investors wipe $36bn off the local market and push the ASX 200 to the brink of a "correction" as Wall Street tumbles continues to tumble. No exemption for tariffs on Australian steel, aluminium sent to US. Corporate regulator sues super giant.
That's all from the Trading Day blog for Wednesday, March 12. The ASX 200 closed 1.3 per cent lower at 7786.2 points after bouncing from 7733.5 to 7808 in volatile trading.
The big falls come amid heightened volatility in US stocks with the S&P 500 continuing to slide amid escalating trade tensions between the US and Canada.
On Wall Street, the S&P 500 closed 0.8 per cent lower, the technology-focused Nasdaq Composite Index finished down 0.2 per cent and the Dow Jones Industrial Average shed 1.2 per cent.
Cryptocurrency market leader bitcoin is trading below $US83,000.
The Aussie dollar is trading around US62.89c.
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