Share markets around the world have taken a battering as Donald Trump's new tariff regime creates a wave of uncertainty.
See how the Aussie dollar, ASX and global shares have performed since Trump's inauguration
The Australian dollar took a pounding in Monday trade, as Trump's tariffs shook global markets.
And so did the Australian Stock Exchange, following the trend of major markets around the world.
Economic uncertainty has hit new highs in Australia
These global share price falls are not just linked to US president Donald Trump’s tariffs — but also his unpredictability.
What happens next?
In a research note, Deutsche Banks says that depends whether the Trump administration looks for “an elegant off-ramp or doubles down” on its trade policy.
"This is crucial as it will dictate more things than just trade. It will impact the whole relationship between the US and the [rest of the world] in everything that is important, including defence, geopolitics and the multi-lateral rules-based world order. So where trade goes from here will influence everything else.
"A US administration that doubles down will have immense global implications for 2025 and the years and decades ahead. At the moment there are few signs they are backing down which will likely signal more market turmoil ahead.
"Rarely if ever have the next few days been so important."
Notes:
- The charts in this story are not updated live and should not be used to monitor trading. They show daily closing figures for stock markets, across the time period since Donald Trump's inauguration on January 20, 2025.
- The exchange rate shown for the Australian dollar into US dollars is the WM/Reuters Australian Dollar Fix at 4pm Sydney time on the day concerned, as published by the Reserve Bank of Australia.
