ASX Preview: Australian Shares Set for Lower Open After Wall Street Sell-Off

MT Newswires Live

03-04

Australian equities are poised to open lower on Tuesday, following a sell-off in Wall Street amid the ongoing tariff dispute.

The markets remain concerned about a potential full-fledged global trade war as US President Donald Trump said the 25% tariffs on Canada and Mexico are set to go forward on Tuesday.

The Nasdaq Composite slid 2.6%, the S&P 500 closed down 1.7%, and the Dow Jones Industrial Average lost 1.4%.

Investors will be looking forward to retail sales data and international investment data at 11:30 am Sydney time.

In corporate news, the Western Mine Workers Alliance is urging workers at Rio Tinto's (ASX:RIO) Paraburdoo operations to support the commencement of collective bargaining with the company.

WiseTech (ASX:WTC) agreed to acquire Opentecnologia for an undisclosed amount.

Australia's benchmark index rose almost 1% Monday to close at 8,245.70.

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