Aussie markets rallied slightly from significant early losses today, as market’s reacted to new tariffs imposed by the Trump administration, which led the ASX200 down 0.94% and the All Ords down 0.99%. The tale of the day could have been worse, with both indexes reclaiming half the earlier losses of the day and rallying into the close.

The bulls will have been pleased to see the 7,750 level hold firm on the ASX 200, with the level having previously acted as a bottom during the mid March pullback. The index has shed 4.68% over the past month however, erasing the gains of early 2025, and pushing the XJO negative on the year (-4.16%).
 

 
Local tariffs were the lowest named, with a baseline 10% levy on all US imports significantly below that of many other nations. China (54%), Japan (24%), and the EU (20%) faced more severe tariffs, leading to a sharp sell-off overnight in many international markets, including that of the U.S.

China has announced plans to counter the tariffs, with the latest 34% tariff yesterday adding to the previously announced 20% levy on the nation.

Not all sectors faced negative outcomes, with both the consumer staples (AXSJ), and healthcare sectors (AXHJ) ending the day in positive territory. With investors looking for safe haven assets during times of volatility, perhaps unsurprisingly, gold also performed well, with a gain of 1.25% for the All Ordinaries Gold index (AXGD).

As the world braces for potential economic repercussions, Australia’s market and global economies remain under scrutiny, highlighting the broader implications of these sweeping tariffs.
 

 

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