The Australian sharemarket is set to turn lower on Monday after US President Donald Trump’s threat to impose major tariffs on the EU and Apple sparked renewed selling on Wall Street.
ASX futures are pointing down 30 points, or 0.4 per cent, predicting the Index will reverse the prior session’s gains.
The Nasdaq dropped 1 per cent and the dollar hit its lowest level since 2023 on Friday (Saturday AEST) after Trump at the weekend suggested he would apply a steeper tax to European exports in just over a week, describing trade talks with the bloc as “going nowhere”.
Source: https://www.afr.com/markets/equity-markets/asx-to-drop-after-trump-threatens-eu-apple-with-tariffs-gold-climbs-20250523-p5m1rp