The ASX 200 has faced a staggering $100 billion loss in value, plunging over 4% to 7,343 points, marking its most significant downturn in five years due to ongoing tariff disputes initiated by the US President. Market analysts like Luke McMillan emphasize the unprecedented nature of a bear market triggered by a single individual, while Omkar Joshi warns of the consequences if retaliations escalate. Investors are concerned about the potential for further declines if tensions continue, reflecting a lack of faith in the administration's intentions.
"It's a bloodbath on the share market today in Australia."
"If we have a situation where no one backs down and we see more retaliation from both sides, it gets trickier."
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