Aussie shares drop again as Trump talks more | Australian Markets

The Australian share market has resumed its downtrend, falling for sixth day in seven after President Donald Trump declared confirmed sweeping US tariffs in opposition to Canada and Mexico.

The benchmark S&P/ASX200 index on Tuesday fell 56.3 factors, or 0.68 per cent, to eight,251.9, whereas the broader All Ordinaries dropped 62.1 factors, or 0.73 per cent, to eight,498.0.

The losses got here after Mr Trump advised reporters that his 25 per cent tariffs on Mexico and Canada would go into impact subsequent week, as soon as a month-long delay on their implementation expires.

“We’re on time with the tariffs, and it seems like that’s moving along very rapidly,” he stated at a White Home press convention with French President Emmanuel Macron.

He harassed more broadly that US “reciprocal” tariffs have been on schedule to start as quickly as April.

Seven of the ASX’s 11 sectors completed decrease, with power, client staples, health care and utilities greater.

The buyer discretionary sector was the worst performer, falling 2.7 per cent as Domino’s Pizza Enterprises plunged 10.5 per cent to a more than one-month low of $28.89 after the fast food giant posted its first loss in 20 years.

The loss was a outcome of $115.6 million in restructuring prices, together with closing 205 struggling shops largely in Japan.

Kmart proprietor Wesfarmers dropped 3.9 per cent and Adairs retreated 11.6 per cent to $2.37 after the furnishings retailer reported its first-half revenue was up 9.7 per cent to $19.4 million.

Within the materials sector, John Lyng Group had plummeted 29.1 per cent to a almost five-year low of $2.695 after the building clean-up company stated its internet revenue for the primary half had dropped by one-third, to $20.8 million.

It had been a difficult working surroundings, Johns Lyng stated, with benign climate circumstances throughout Australia leading to a diminished quantity of insurance coverage claims.

Others dropping on earnings outcomes included petrol retailer Viva Power (down 26.9 per cent), wound care company Polynovo (down 17.8 per cent) and Cyclopharm (down 20 per cent).

On the flip facet, these gaining after issuing earnings reviews included Zip Co (up 13.9 per cent), Helia Group (up 17.2 per cent) and Woodside (up 2.8 per cent).

Within the heavyweight mining sector, BHP dropped 1.2 per cent to $40.31, Fortescue retreated 2.8 per cent to $17.97 and Rio Tinto dipped 0.6 per cent to $119.06.

All of the large 4 banks completed decrease, with ANZ dropping 0.7 per cent to $29.34, NAB retreating 1.4 per cent to $35.39, Westpac subtracting 0.1 per cent to $31.25 and CBA falling 1.3 per cent to $154.27.

In currency, the Australian greenback was shopping for 63.55 US cents, from 63.77 US cents at 5pm AEDT on Monday.

ON THE ASX:

* The benchmark S&P/ASX200 index on Tuesday dropped 56.3 factors, or 0.68 per cent, to eight,251.9

* The broader All Ordinaries fell 62.1 factors, or 0.73 per cent, to eight,498.0

CURRENCY SNAPSHOT:

One Australian greenback buys:

* 63.55 US cents, from 63.77 US cents at 5pm AEDT on Monday

* 95.16 Japanese yen, from 95.27 yen

* 60.65 euro cents, from 60.66 euro cents

* 50.29 British pence, from 50.33 pence

* 110.76 NZ cents, from 110.78 NZ cents