Aussie shares fall more than 2 per cent in wake of Donald Trump’s tariffs announcement

News Snapshot:

Australian shares have plummeted more than 2 per cent in early trading, with deeper drops expected in Asian markets after US tariffs blew expectations out of the water. The S&P/ASX200 was down 143.3 points, or 1.83 per cent, just after 11am AEDT on Thursday to 7,791.2, as the broader All Ordinaries gave up 146, or 1.80 per cent, to 7,987.1. Markets had expected US President Donald Trump’s “Liberation Day” tariffs to have a ceiling of 15 per cent, but instead Trump announced a base rate of 10 per cent and imposts including 34 per cent for China, 24 per cent...