The ASX200 plunged another 1.3% on Wednesday, making it official that the tariff pullback is now a correction. The market has fallen more than 10% from its Valentine's Day high - excuse the analogy, but it does feel like a “Valentine's Day Massacre,” which coincidentally unfolded in Chicago in 1929, the year of one of the most significant stock market collapses in history.
The ASX200 closed down 0.9% on Monday, posting a seven-month low in the process, though it managed to bounce ~1% from its intraday lunchtime low. The index had extended the past month’s pullback to 9.3% - just shy of an official correction (10%).
The ASX200 limped higher on Monday with little conviction as US S&P500 futures and Asian equities peeled away after some unconvincing comments from President Trump in an interview that aired Sunday US time.
President Donald Trump campaigned on a promise to lift what he called an ailing US economy, although the data and stock market said otherwise. Last week, he suddenly warned his much-beloved share market that some pain might be on the menu before things improve.
The ASX200 endured its third daily decline on Thursday, finishing 46 points lower. However, the heavyweight miner's BHP, RIO, and South32 all traded ex-dividend, along with oil giant Woodside (WDS), exacerbating the weakness and illustrating why charts can only be used so far before we must bore down into the markets' nuts and bolts.
The ASX200 retreated another 0.7% on Wednesday, with over 70% of the main board closing lower. Although it was encouraging to see equities bounce from their lunchtime low when the index was down over 100 points, the reality of Trump's tariffs has shaken stocks in the last three weeks, and he apparently has not finished yet.
The ASX200 struggled again on Tuesday following a tough session on Wall Street, although the -0.6% decline was significantly better than the US S&P500, which tumbled -1.8% as the large-cap tech names received attention from the sellers.
The ASX200 rallied +0.9% on Monday after Chinese Manufacturing Data came printed better than expected: The Caixin PMI came in at 50.8, well above the 50.4 consensus forecast, delivering its fastest expansion rate in three months.
There’s recently been plenty of headline news to trouble investors, although much of it was flagged in Trump's election campaign speeches. Still, when it becomes a reality, it causes a migration into defensive assets.
The ASX200 enjoyed broad-based buying on Thursday, pushing the index up 27 points / +0.3%; less than 30% of the main board closed lower, with healthcare as the weakest sector. BHP Group (BHP) and Medibank Private (MPL) added 9 points to the index, while CSL was the standout detractor, taking more than 7 points off the ASX200.
The ASX200 closed down 0.9% on Monday, posting a seven-month low in the process, though it managed to bounce ~1% from its intraday lunchtime low. The index had extended the past month’s pullback to 9.3% - just shy of an official correction (10%).
The ASX200 limped higher on Monday with little conviction as US S&P500 futures and Asian equities peeled away after some unconvincing comments from President Trump in an interview that aired Sunday US time.
President Donald Trump campaigned on a promise to lift what he called an ailing US economy, although the data and stock market said otherwise. Last week, he suddenly warned his much-beloved share market that some pain might be on the menu before things improve.
The ASX200 endured its third daily decline on Thursday, finishing 46 points lower. However, the heavyweight miner's BHP, RIO, and South32 all traded ex-dividend, along with oil giant Woodside (WDS), exacerbating the weakness and illustrating why charts can only be used so far before we must bore down into the markets' nuts and bolts.
The ASX200 retreated another 0.7% on Wednesday, with over 70% of the main board closing lower. Although it was encouraging to see equities bounce from their lunchtime low when the index was down over 100 points, the reality of Trump's tariffs has shaken stocks in the last three weeks, and he apparently has not finished yet.
The ASX200 struggled again on Tuesday following a tough session on Wall Street, although the -0.6% decline was significantly better than the US S&P500, which tumbled -1.8% as the large-cap tech names received attention from the sellers.
The ASX200 rallied +0.9% on Monday after Chinese Manufacturing Data came printed better than expected: The Caixin PMI came in at 50.8, well above the 50.4 consensus forecast, delivering its fastest expansion rate in three months.
There’s recently been plenty of headline news to trouble investors, although much of it was flagged in Trump's election campaign speeches. Still, when it becomes a reality, it causes a migration into defensive assets.
The ASX200 enjoyed broad-based buying on Thursday, pushing the index up 27 points / +0.3%; less than 30% of the main board closed lower, with healthcare as the weakest sector. BHP Group (BHP) and Medibank Private (MPL) added 9 points to the index, while CSL was the standout detractor, taking more than 7 points off the ASX200.
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