The local bourse has resumed losing ground after US tariffs on China were revealed to be higher than previously thought, stoking fears of a global recession.
Australian shares have rebounded sharply, tracking with an overnight Wall Street rally after US President Donald Trump shifted gears on tariffs yet again.
The S&P 500 has closed up 9.5 per cent after US president Donald Trump declared a 90-day tariff pause for many countries, effective immediately, bringing some relief to investors.
An Australian share market rally has led to its biggest daily gain of 2025, but the recovery could be short-lived as trade war uncertainty weighs on confidence.
Fears of a tariff-induced US recession and global economic slowdown have fuelled a stockmarket bloodbath, erasing $109 billion from Australia's top 500 stocks.
US stock futures have opened sharply lower, suggesting a continuation of the two-day selloff that wiped trillions from equity values after the Trump administration's tariffs announcement.
Wall Street benchmarks slumped overnight, ending with the largest one-day percentage losses since 2020, as US President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession.
Australian shares have tailed a rebound on Wall Street overnight, but investors remain cautious as a fog of uncertainty hangs over incoming US tariffs.
