Lunch Wrap: Global markets panic after China fires retaliatory shot; ASX crashes 4pc

Lunch Wrap: Global markets panic after China fires retaliatory shot; ASX crashes 4pc

The ASX has been hit hard on Monday, with no sector spared Wall Street’s meltdown deepens, S&P and Nasdaq crash 6pc Miners, banks and oil stocks crushed in panic sell-off   The ASX got a real gut punch at the open this morning, down by 4% at lunch time AEST. A wave of panic has hit global markets, and nothing was left untouched. For those who didn’t catch the news, the panic was sparked when Beijing decided to retaliate and slap a fresh 34% tari…

Buying BHP shares? Here's the miner's outlook for China's iron ore demand

BHP Group Ltd (ASX: BHP) shares are taking a Trump tariff beating on Monday, alongside most other Aussie stocks. Shares in the S&P/ASX 200 Index (ASX: XJO) mining giant closed Friday at $36.82. In afternoon trade today, shares are changing hands for $34.82 apiece, down 5.4%. For some context, the ASX 200 is down 4.0% at this same time. BHP shares are catching headwinds amid a near 4% drop in the iron ore price, with the steel-making metal falli…