Investors bail out of stocks as Trump's tarffs sparks recession fears | Close of Business | ABC News скачать в хорошем качестве

Investors bail out of stocks as Trump's tarffs sparks recession fears | Close of Business | ABC News

From Wall Street to Tokyo and Australia, red ink marked the stock boards of exchanges across the globe. The scatter gun tariffs from US President Donald Trump, although well telegraphed, were perceived as the worst case scenario. Traders no longer prepared to take on risk, sold out of markets in a $US4.75bn wipeout in the US and the ASX 200 lost 3.9% by the end of the week. There are growing fears of a global downturn sparked by a US recession as US consumers are forced to pay more for imports. In Australia, rate cut expectations are rising with markets pricing in 4 cuts this year. Tim Harcourt, industry professor and chief economist at University of Technology talks to Alicia Barry about how the highest US tariffs in over 100 years will hit US consumers, workers and farmers the hardest. Close of Business also looks at a cyber hack in the superannuation sector and an inquiry into private health insurers amid claims of price gouging. #ABCBusiness Subscribe: https://ab.co/3yqPOZ5 Welcome to ABC News In-depth, where you'll find our long-form journalism and other videos to help you understand what's going on in the world around you. Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 For more from ABC News, click here: https://ab.co/2kxYCZY Get breaking news and livestreams from our ABC News channel:    / newsonabc   Like ABC News on Facebook:   / abcnews.au   Follow ABC News on Instagram:   / abcnews_au   Follow ABC News on Twitter:   / abcnews   Note: In most cases, our captions are auto-generated. #ABCNewsIndepth #ABCNewsAustralia