Australia Shares to Tumble After Tariff Announcement -- Market Talk

Dow Jones05:58

2158 GMT - Australian shares look set to tumble at the start of the trading week, following President Trump's weekend announcement of tariffs on Canada, Mexico and China. ASX futures are down by 1.2% ahead of Monday's session, suggesting the S&P/ASX 200 benchmark index will retreat from the record it set at the end of last week. Ahead of Monday's session, medical-device maker Fisher & Paykel, which is listed in Australia, said tariffs would likely raise its costs and delay a key profitability target. Miner Westgold cut its annual production guidance. U.S. equities provided a soft lead on Friday. The DJIA lost 0.8%, the S&P 500 fell 0.5% and the Nasdaq Composite slipped 0.3%. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 02, 2025 16:58 ET (21:58 GMT)

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