Donald Trump’s tariffs shattered Wall Street, and have increased the threat of global recession, with global markets, including the ASX suffering.

MARKET WRAP:

• ASX200: down 4.23%, 7,343
• GOLD: $3,046 US/oz
• BITCOIN: $127,575 AUD

• Commbank down 6.2%, Westpac down 5.6%, NAB 4.5% and ANZ 4.8%
• Mineral Resources off 11.8%, South 32 down 7.8%, and BHP falling 6.1%.
• Woodside Energy announced it would sell a $9.5 billion stake in its Louisiana LNG export terminal, but with the Energy sector down, still lost 5.8% to $19.25. 
• Santos was worse off, falling 9.8%.
• Telstra dropped just half a percent, Sigma Healthcare fell 2.4% and Wesfarmers sank 4.9%
• Abacus Storage King might have got away with one today, with shares surging more than 20% to $1.40 after a takeover offer worth almost $2 billion was hurled their way.
• Challenger rose 7% after it told the market life insurer, TAL Dai-ichi Life, would take control of 15.1% of the company.
• While also flying in the face of market fear were Reece, up 3.7%, Wisetech Global up 2.2%, and CAR Group, up 1%.
• Star Entertainment which agreed to hand control of the casino group to the US-based Bally’s Group in a deal worth $300 million

CURRENCY UPDATE:

• AUD/USD: 60.08 US cents
• AUD/GBP: 46.7 pence
• AUD/EUR: 54 Euro cents
• AUD/JPY: 87 Japanese yen
• AUD/NZD: 1.07 NZ dollars