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.
The ASX 200 is a sea of red on the opening, and the Aussie dollar has plunged below 60 cents, as investors continue to sell-off on fears of a global recession.
Anthony Albanese says Australia has been in contact with the White House, as he says the global chaos from the Trump tariffs is concerning for Aussie super.
Key market index now 10 per cent below February 14 record close as tariff fears hit investors. Woodside, Santos lead energy slump. Banks and miners also in the red.
China’s economic data beats estimates. Star’s former executives expose alleged internal fails. Suitor Ramelius falls as $2bn bid lifts Spartan. Smartpay’s best day in months as Tyro, unnamed rival suitor circle. Woodside gets its first China LNG customer.
Australia is paralysed by overregulation that’s killed innovation and ‘Crypto King’ Fred Schebesta thinks the “nanny state” needs a Trump-style U-turn, and fast.
Qantas chairman John Mullen has issued a stark warning that our way of life could simply “stop” in a serious international emergency.
An Aussie billionaire and ardent climate change campaigner has just bought a private jet, but says he feels a ‘deep internal conflict’ about it.
Australia’s sharemarket snapped a three-day losing streak on the back of the major miners, as the price of gold and iron ore climbed throughout the trading day.
Australian stocks rise into the weekend. US futures soar as Trump government shutdown risks fade but trade tariff fights continue. Banks in the red. Gold miners soar as safe-haven commodity eyes new peak past $US3000 per ounce.
A former top Canberra boffin has blasted a call from senator Jacqui Lambie to use Australia’s Pine Gap intelligence asset to hit back at Donald Trump.
Donald Trump’s tariffs are continuing to hit the Aussie sharemarket, with the value of coal companies falling, while investors look for a golden safe haven.
The Australian Taxation Office has announced its hit list for businesses ahead of tax time, as it looks to crack down on dodgy practices.
Another Australian beer company has gone bust despite its celebrity owners, as the tough retail environment continues to put pressure on small businesses.
Original URL: https://www.themercury.com.au/business/markets/page/7