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Stock impact report

Australia shares fall most in 5 weeks on Trump's China tariff threat [Reuters]

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP) 
US:NYSE Investor Relations: bhp.com/investor-centre
Company Research Source: Reuters
Australia shares fall most in 5 weeks on Trump's China tariff threat (Updates to close) By Soumyajit Saha May 1 (Reuters) - Australian shares fell 5% on Friday, their most in five weeks, as risk sentiment was battered by threats of new tariffs from U.S. President Donald Trump against China and a slew of bleak data out of the world’s top economy. Trump made clear his concerns about China’s role in the origin and spread of the novel coronavirus were taking priority over efforts to build on an initial trade agreement. Fresh U.S. tariffs could delay a return to normalcy from the virus-driven downturn for China, Australia’s biggest trading partner, and thereby, hurt Australia too, said Mathan Somasundaram, market portfolio strategist at Blue Ocean Equities. The S&P/ASX 200 index settled at 5,245.9, posting its fifth weekly gain in six. Data released overnight showed millions more Americans filed claims for unemployment benefits last week, while consumer spending in March suffered a record Show less Read more
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