Australian shares dropped over 2% on Friday as investor concerns resurfaced over the trade standoff between the world’s two biggest economies and the potential global economic impact of U.S. tariffs.
The S&P/ASX 200 index fell as much as 2.4% to 7,524.50 points by 0016 GMT, reversing part of Thursday’s 4.5% rally that was driven by President Donald Trump’s temporary tariff relief for several countries.
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