Australian shares will end a tumultuous week of violent swings with another sharp loss after Wall Street slumped back into the red on widening concerns about its trade stand-off with China.
The S&P-ASX200 was 2.2 per cent lower at 7534.6 points 20 minutes after opening, lifting it back into loss for the week.
Earlier, the S&P 500 gave up a portion of Wednesday’s 9.5 per cent surge, losing 3.5 per cent in another wild trading session. The selling accelerated after the White House revealed that US tariffs on Chinese imports now stood at 145 per cent, not the 125 per cent thought by investors.
The swift intraday drop that followed the disclosure pushed the S&P 500 to within one per cent of triggering circuit breakers that pause trading for 15 minutes.
More to come.
https://thewest.com.au/business/markets/here-we-go-again-australian-stocks-open-16-per-cent-lower-as-trade-war-concerns-widen-c-18335997
