Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Add as a preferred source on Google
Australia’s S&P/ASX 200 index is on the brink of correction territory, tumbling 9.8% from its all-time high on February 14, driven by escalating trade tensions following U.S. President Donald Trump’s new tariffs.
As of 03:20 GMT, the benchmark index dipped 0.2% to 7,772.5 points, extending its downward trend. On Wednesday, it briefly entered correction territory, plunging 1.6% to its lowest level since September 2024 before rebounding slightly. March losses have now hit nearly 5%, following a 4.2% drop in February, marking four consecutive weeks of declines.
The downturn follows Trump’s decision to impose 25% tariffs on steel and aluminum imports, effective Wednesday. Australia, which had hoped for an exemption, was left disappointed. Prime Minister Anthony Albanese condemned the move as "entirely unjustified" and a blow to the long-standing alliance between the two nations.
The tariffs are stoking fears of rising costs for Australian exporters and broader economic disruptions. Investors are increasingly wary, with market sentiment deteriorating amid global trade uncertainties.
With mounting losses and no immediate relief in sight, all eyes remain on how policymakers and market forces will navigate this escalating economic challenge.
