xAnts

ASX Plunges as Trump Tariffs Spark Global Trade War Fears

Stockhead

The Australian Stock Exchange (ASX) has suffered a significant decline as US President Donald Trump's tariffs spark market jitters, with Canada and China retaliating with their own tariffs. The move has the potential to 'cause significant disruption' to global trade, affecting major companies such as Suncorp, Insignia, and HCW. As trade tensions escalate, investors are bracing for a potential trade war, leading to a downturn in the market. With the ASX feeling the heat, experts warn of further volatility in the days to come, making it a challenging time for investors. Key terms: trade war, tariffs, ASX