Staggering $2.4 trillion erased on Trump tariffs

News.com.au - 04/04
Australia’s sharemarket has been smashed for a second day running, following the worst day on Wall Street since the Covid pandemic off the back of the Trump tariff announcement.

Australia’s sharemarket has been smashed for a second day running, following the worst day on Wall Street since the Covid pandemic off the back of the Trump tariff announcement.

The local ASX 200 was not immune to the global sell-off as about $50bn was wiped as the market dropped 137.50 points or 1.75 per cent to 7,722.20 points during early trading.

In the US, all three indexes had their worst day since 2020. The Dow and S&P500 dropped 4 and 4.8 per cent respectively while the tech-heavy Nasdaq Composite plunged 6 per cent.

The S&P 500 fell back into a correction on Thursday, as it is now down more than 10 per cent from its Februar...
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