1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
President Trump has unleashed his tariffs on the world and markets have recoiled in horror.
Australian shares fell precipitously at the opening, but the S&P/ASX200 managed to pull itself off the canvas to finish down 0.94% to 7859.70, having initially fallen around 2%.
Australian exports will cop a 10% tax at the American border, but the President has a bigger beef with our meat exporters who sold about $3.3 billion worth of red meat to the US last year.
Most US-sensitive stocks ended in the red as did China exposed stocks with exports from the world's second largest economy copping a total tariff rate of 54%.
Treasury Wine Estates slumped 1.6% despite attempting to reassure investors that its US portfolio remains relatively shielded. Ansell fell 14.3%, Fisher and Paykel rose 2.7% and Cettire dropped 14.5% as it flagged price increases for its US market.
The iron-ore players were down during the session, with Rio Tinto ending 2.7% lower amid uncertainty on Chinese economic growth. Investors again found solace in the gold space with Ramelius Resources the best performer.
CBA defied the market and finished 1% higher, while ANZ fell 1.4% after confirming that APRA is conducting an investigation into non-financial risk practices and culture at the bank.
And the Aussie dollar was pummelled before recovering a little to finish around US 62.7 cents.
Tonight, there's data on the US trade balance, which Donald Trump is attempting to radically alter. And locally tomorrow we get household spending data.
