Global markets plunged overnight. ASX will bet a serious bruising today.
In Europe, the FTSE fell 419 points (4.95%), the DAX fell 1075 points (4.95%) nd the CAC fell 324 points (4.26%).
UK fall was the larget since COVID March 2020.
China imposed a 34% tariff on US imports - matching the 34% imposed by Trump.
In the US, the DOW fell 2,231 points (5.50%), the NBI fell 226 points (5.49%), the NASDAQ Composite fell 962 points (5.82%) and the Russell small cap index fell 83 points (4.37%).
There was no hiding place with all sectors in decline.
US tariffs are now the largest in 100 years.
Goldman Sach predict that the US will have a growth rate of less than 1% in 2025 with an unemployment rate of 4.5% and an inflation rate of 3.5%.
Jerome Powell stated that inflation will be "more persistent" after tariffs are introduced.
US Treasury 10 year bond yield sits at 4.013%
Oil prices slumped - Brent crude at US$66.21 per barrel.
Precious metal prices fell - gold is at US$3,037 per oz. Silver prices have dropped 10% over the last two days.
BITCOIN rose to US$83,939.
IMU Price at posting:
2.6¢ Sentiment: Buy Disclosure: Not Held
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