ASX 200: Australian share market sheds $160bn on opening as US trade war gloom spreads across globe

More than $160bn was wiped off Australian shares early on Monday, before the market recorded a modest reprieve, as fears of a full-blown trade war escalate and risks of a global recession grip traders. The benchmark S&P/ASX 200 sank more than 6% to trade below the 7,200 point mark within minutes of the market opening on Monday, sending it back to levels not seen since late 2023. The huge price falls are diminishing the value of almost all investment and superannuation portfolios with shares, building on the market falls recorded last week immediately after Donald Trump announced the details of

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