Trump slump
Market volatility may have more ramifications for politics than economics — in the short run, at least.
As Australians were witnessing the worst day for the ASX since the early months of the Covid-19 pandemic on Monday, Treasurer Jim Chalmers was sympathising with investors and anyone brave enough to glance at their superannuation balance.
Chalmers insisted that Australia is “better placed and better prepared than our peers” to handle the fallout from Donald Trump's tariffs.
“Everyone with a super fund, everyone with shares, I think probably every Australian is seeing what's happening on global share markets and in our own sharemarket, with a degree of trepidation,” he told reporters.
“I say to them that the work that we have done together … [is] our best defence against this global uncertainty.”
