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What had been shaping into a solid little Week 13 for the ASX 200 has been pipped at the post heading into Thursday as Australian shares look to follow the global downturn sparked by Trump’s tariffs campaign resurfacing State-side.
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The U.S. President just announced car tariffs a little under an hour ago, at the time of writing, though exactly what shape they’ll take is a little hazy.
There’s been some suggestions car parts may be exempt; others think it’ll all be targeted.
This move from the White House also comes bundled with more tariffs next week.
Unsurprisingly, tariffs flaring up as a U.S. talking point again nearly immediately fired a red shot to the markets: The Nasdaq composite ended trade as much as -2% lower, while the S&P 500 was marked down -1.1% by close.
Most major European indices were in a similar boat, with the pan-EU STOXX 600 shaving 0.7%. London’s FTSE proved the exception, actually adding +0.3%.
Back home, Labor’s 2025 Budget continues to be lambasted by critics, with the latest salvos calling it a “diet” release that won’t hit its saving assumptions.
WiseTech Global (ASX:WTC) is still feeling the not-so-great splashback from Richard White’s re-seizing of power at the company earlier this year, with AustralianSuper selling out its hefty $580 million stake over governance concerns.
New Zealand electricity generator Contact Energy (ASX:CEN) is fighting back against a nature-related block on its 300-megawatt onshore wind farm in Southland.
Meeka Metals (ASX:MEK) has continued landing golden success at Turnberry Central, today sharing new data on the 20-metre-plus intersections it has been working on.
One popular company already being closely watched on HotCopper forums today is EMVision Medical Devices (ASX:EMV); the developer has started key validation trials on its first commercial device, the Emu Bedside Brain Scanner.
Forum users are also tracking Everest Metals (ASX:EMC) after its aircore drilling started.
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51st State: What is Trump’s endgame with tariffs – and what will it mean for Canada?
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Looking at forex, the Aussie dollar is buying 63 US cents.
To commodities, which are in the greenback,
Iron Ore has advanced 0.8% to sell at $102.40 a tonne in Singapore,
Brent Crude is trading at $74.03,
Gold is trading at $3,039 per ounce, and,
US natgas futures have held around $3.84 per gigajoule.
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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions.
