Global markets imploded overnight in reaction to US tariffs across the world.
In Europe, the FTSE fell 133 points (1.55%), the DAX fell 673 points (3.01%) and the CAC fell 259 points (3.31%).
US markets suffered its largest falls since COVID.
The DOW fell 1679 points (3.98%), the NBI fell 78 points (1.87%), the NASDAQ Composite fell 1,050 points (5.97%) and the Russell small cap index fell 134 points (6.59%).
Australia received only a 10% Tariff so it will be interesting if the falls on the ASX will be of the same magnitude as overseas markets.
US dollar plunged on world currency markets.
Predictions of lower consumer spending and higher unemployment are gripping US market sentiment.
Trump formula for imposing tariffs does not include "services" of which the US has a worldwide surplus. EU is planning to retaliate with tariffs on US services so we can expect further falls in US markets when that happens.
US Treasury bond yield fell to 4.052%
Oil prices fell heavily - Brent crude down to US$69.96 per barrel.
Precious metal prices fell (somewhat of a surprise). Gold is down to US$3,108 per oz. Silver price plummeted.
BITCOIN fell to US$82,024.
IMU Price at posting:
2.8¢ Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)