As Donald Trump’s tariff wars throw US markets into a pit of uncertainty,the Australian sharemarket is shaping up as a safe haven.
The meetings of the International Monetary Fund and World Bank this past week have been dominated by the future of a key building block of globalisation.
Any other time,it would have been a signal that the worst of the sharemarket’s slide is nearing an end,setting off buy signals at trading desks across Wall Street. But not now.
The Australian sharemarket extended its gains on Thursday on the back of miners,banks and tech stocks.
Donald Trump’s backflips on his astronomical China tariffs and firing Fed chair Jerome Powell show that markets can protect the world from his worst instincts – to some extent.
The world’s traditional havens in times of stress have themselves become sources of stress.
The volatility so far this month might be just a reaction to Trump’s tariffs. It might also reflect a structural threat.
The Australian sharemarket finished a turbulent week in the red,with miners falling after Wall Street slumped overnight.
A decade after being engulfed by a controversy,Wall Street’s secretive dark pools are back,and they are getting even darker.
The Australian sharemarket posted its biggest jump in five years on Thursday after Wall Street had its third-best day since World War II following Donald Trump’s stunning tariffs reversal.