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ASX 200 Falls 1.3% Following US Tariff Implementation
Banks and Mining Stocks Lead Market Downturn Amid Trade Tensions
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The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
The Australian sharemarket experienced a significant decline on Wednesday, with the S&P/ASX 200 Index dropping 1.3%, equivalent to 103.9 points, closing at 7786.2.
This downturn was primarily driven by the United States' recent decision to impose tariffs on steel and aluminium imports, which notably excluded Australia from exemptions.
The financial sector bore the brunt of this decline. Commonwealth Bank shares fell by 1.4% to $144.80, while National Australia Bank and Westpac both saw decreases of 2.1% and 2% respectively. The materials sector also suffered, with mining giants BHP and Rio Tinto experiencing declines of 1.8% and 1.9%.
Market analysts attribute this sell-off to heightened investor concerns over escalating trade tensions and their potential impact on global economic growth. The absence of exemptions for Australia in the US tariffs has intensified these apprehensions, leading to a cautious approach among investors.
In response to these developments, financial advisors recommend that investors maintain a diversified portfolio to mitigate risks associated with market volatility. Staying informed about international trade policies and their potential implications is also crucial for making informed investment decisions.
Published:Thursday, 1st Jan 2026 Source: Paige Estritori
Please Note: If this information affects you, seek advice from a licensed professional.
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