By STEPHEN JOHNSON, ECONOMICS REPORTER FOR DAILY MAIL AUSTRALIA

Published: 01:33 BST, 3 April 2025 | Updated: 01:42 BST, 3 April 2025

The Australian share market has lost $50billion as Donald Trump’s broad-based tariffs stir fears of an American recession.

The benchmark S&P/ASX200 plunged 1.99 per cent in the opening half-hour of trade on Thursday morning.

By 11.30 Sydney time, the loss rate had moderated to 1.58 per cent, with the index trading at 7,809.40 points.

At the worst point in early trade, $50billion had been wiped off Australian shares.

The falls on the Australian share market reflected what happened on Wall Street with the flagship S&P 500 diving by two per cent, as the tech-focused the Nasdaq dropped three per cent.

The Australian Agricultural Company, Australia’s largest integrated beef producer, did even worse with its share price plummeting by 3.18 per cent to $1.37 in early trade.

The Australian share market has lost $50billion as Donald Trump 's broad-based tariffs stir fears of an American recession

The Australian share market has lost $50billion as Donald Trump ‘s broad-based tariffs stir fears of an American recession

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Australian share market suffers $50billion bloodbath after Trump imposes new tariffs

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