The Australian stock market experienced a significant decline, losing over $45 billion in value after fears of a recession led to plummeting US markets overnight. The S&P/ASX200 benchmark dropped by more than 140 points, representing a decrease of approximately 1.79%, while the All Ordinaries index fell by about 1.9%. The market value decreased sharply in the first half of the trading day, reaching a loss of $45 billion from Monday’s closing figure of $2.6 trillion. Uncertainty caused by President Donald Trump’s trade policies and the potential economic slowdown contributed to the market reaction, as did weaker than expected US jobs and inflation data. China’s retaliatory tariffs on US imports and the urgency to reach a spending bill in Congress also added to the global market turmoil. On Wall Street, the S&P500, Nasdaq Composite, and Dow Jones Industrial Average all saw significant declines, with tech stocks, particularly the “Magnificent Seven” companies, experiencing a substantial drop. Investment uncertainty, exacerbated by large tech stocks’ considerable influence on the broader market, led to widespread sector declines in the Australian share market, although the market’s recent record highs provided some perspective on the current downturn. Additionally, the Australian dollar weakened against the US dollar.

Source: https://www.theguardian.com/us-news/2025/mar/11/australian-share-prices-plummet-45-billion-after-trump-recession-fears-tank-us-market