AUS
NZ
UK
CA
USA
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GER
ESP
ITA
NLD
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SWE
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POL
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Highlights
- ASX 200 slides 1.5% as all sectors decline.
- US tariff concerns impact Australian stocks.
- Wall Street volatility influences global markets.
The Australian share market faced a challenging session, with the S&P/ASX 200 Index dropping 1.5% (119 points) to 7770 by mid-morning AEDT. The downturn followed US President Donald Trump’s firm stance against exempting Australia from fresh tariff measures on steel and aluminium exports.
Broad-Based Market Decline
All 11 sectors of the index were in negative territory, with healthcare leading the decline, down 2.4%. The financial sector also struggled, weighed down by major banks. Shares of (ASX:CBA) dropped 1.9%, while (ASX:NAB) and (ASX:ANZ) both declined 1.8%. (ASX:WBC) was also in the red, slipping 1.2%.
The tariff decision followed Trump’s announcement to potentially double levies on steel and aluminium imports from Canada, sparking broader concerns about trade policy shifts. Overnight, the US market reacted sharply, leading to a ripple effect on global indices, including the ASX.
Wall Street Influence on Local Sentiment
The ASX’s slide mirrored Wall Street’s performance, where all three major US indices posted losses. The volatility index (VIX) surged to 29.57 before settling at 27.01, indicating heightened market uncertainty. Bond yields on 10-year US Treasury notes also edged lower, prompting renewed interest in alternative assets such as bitcoin, which rebounded past $82,000 following a significant drop the previous day.
Tech giant (NASDAQ:AAPL) fell 2.9%, marking a five-day loss exceeding 6%. Meanwhile, (NASDAQ:TSLA) rebounded 3.8% after a steep 15% decline in the prior session.
Company-Specific Moves
Mining heavyweight (ASX:RIO) saw a 2% dip following news of its plans to raise up to $9 billion through bond sales. The move is intended to support its acquisition of Arcadium Lithium, a strategic step toward expanding its resource portfolio.
On a positive note, (ASX:NIC), the largest ASX-listed nickel producer, regained 2% after a major downturn in the previous session. The recovery followed a sharp decline of nearly 25% after one of its key shareholders offloaded half of its stake at a discounted price.
Market Outlook
The ASX’s performance remains sensitive to global trade policies and Wall Street movements. With ongoing discussions around tariffs and potential shifts in investor sentiment, market participants are closely monitoring global economic developments for further direction. The upcoming sessions will be pivotal in determining whether the ASX can regain lost ground or continue its cautious trade.
