US Markets
US stocks fell on Friday as concerns over tariffs and inflation unsettled traders heading into the weekend.
Major benchmarks declined after President Donald Trump announced plans for reciprocal tariffs on trading partners, potentially raising tariff levels across the board to match those imposed on the U.S.
The Dow Jones Industrial Average dropped 444.23 points, or 0.99%, to close at 44,303.40. The S&P 500 lost 0.95% to end at 6,025.99, while the Nasdaq Composite fell 1.36% to 19,523.40. Friday’s losses pushed the major indices into negative territory for the week.
The latest US jobs report painted a mixed picture of the American economy. While the unemployment rate remained low, job creation was slower than anticipated. The weaker-than-expected jobs growth has also diminished hopes of a rate cut by the Federal Reserve in March.
Australian market
The Australian sharemarket is set to open lower, with SPI futures pointing to a 0.8% fall.
The Australian dollar gained 1.3% to US62.70¢.
Company News
Star Entertainment’s Hong Kong investors have proposed taking over the embattled casino group’s new Queen’s Wharf complex in Brisbane.
Ansell has raised its earnings per share guidance range and announced plans to increase prices to offset tariffs introduced by US President Donald Trump.
Meridian Energy has received final consent approval from the Environment Court to construct a 120-megawatt solar farm on New Zealand’s North Island.
