Australian shares have closed two per cent lower after the US President revived Wall Street fears of a trade war by talking tariffs against Chinese imports.
The major banks and energy stocks have lifted the local share market into positive territory on a day of light trade ahead of a key US Federal Reserve meeting.
Local shares have ended the session in positive territory, led by a consumer sector energised by Wesfarmers' plan to create an independent ASX-listed Coles.
The Australian share market has ended Monday higher, helped by strong US jobs data and Australia's exemption from US tariffs on imported steel and aluminium.
Australian shares have rebounded as fears of a global trade war subsided after the White House indicated some countries may be exempt from proposed tariffs.
The Australian share market has closed lower as investors considered the uncertainty raised by proposed US tariffs on steel and aluminium imports.
Australian and Asian share markets have fallen heavily on concerns the US president's call for import tariffs was the first salvo in a global trade war.
Australian shares look set to open one per cent lower after Wall Street again tumbles, and President Trump says the US will impose tariffs on steel aluminium.
The Australian dollar has retaken some lost ground against the US dollar as the greenback has strengthened amid expectations of more US interest rate rises.
The share market has dropped after a late sell-off on Wall Street, a fall in commodity prices, and as several major local stocks traded ex-dividend.