US EditionAustralian Energy Stocks Plunge as Panic Selloff Expands
- US President Donald Trump's new tariffs caused significant drops in Australian shares on Thursday, leading to a $21 billion loss in market value.
- The ASX200 fell 74.8 points, settling at 7859.7 points, while the All Ordinaries index dropped 80.4 points to 8052.7 points.
- Analysts warn that the tariffs could lead to a global recession, with David Bassanese noting increased odds for a recession in the U.S. And globally.
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Australian Energy Stocks Plunge as Panic Selloff Expands
Australia’s ASX energy index plummeted by 8% at close on Friday amid rising concerns about economic growth and oil demand in continued panic selling in all major markets after the U.S. tariff announcement. The S&P/ASX 200 Energy [XEJ] index consists of the 11 companies in the S&P/ASX 200 that are classified as members of the GICS Energy sector. The index is rebalanced quarterly and constituent businesses tend to center around oil, gas, and coal.…
·London, United Kingdom
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Total News Sources16
Leaning Left2Leaning Right7Center0Last UpdatedBias Distribution78% Right
Bias Distribution
- 78% of the sources lean Right
78% Right
L 22%
R 78%
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