ASX 200 live: Trump tariffs whiplashing on as BHP, CBA down, oil stocks dive; Black Mon fears grip Wall St

Trump tariffs trigger GFC echoes as market trims falls. Treasurer warns on recession risk, flags potential 50bp rates cut. Fears of Black Monday-like crash as traders reel from speedy rout. AUD back above US60c. 

A trader works on the floor of the New York Stock Exchange April 4, 2025, in New York. Wall Street stocks suffered another bruising sell-off April 4, 2025 as major indices slumped more than five percent following President Donald Trump's aggressive tariff policies. (Photo by TIMOTHY A. CLARY / AFP)

Welcome to the Trading Day blog for Monday, April 7. The ASX 200 index closed 4.2 per cent lower to 7343.30 points with all sectors in the red.

Wall Street's major indexes crashed on Friday after S&P 500's 6 per cent loss and the Dow Jones' 5.5 per cent drop, with the technology-focused Nasdaq index also down 5.8 per cent.

Cryptocurrency leader bitcoin was trading below $US75,000 at 5pm AEST.

The Aussie dollar is around US60.24c after hitting a fresh 5-year low of US59.33c in earlier trading.

Originally published as ASX 200 live: Trump tariffs whiplashing on as BHP, CBA down, oil stocks dive; Black Mon fears grip Wall St