Market Wrap / tariff tumble

Trade war concernshas sent the S&P/ ASX 200 0.6% lower to 8,198.1 points during Tuesday's trade. 

US President Trump has signed an executive order doubling the tariffs on China to 20%, which pushed the materials sector down 0.7%. BHP shed 0.3%, also hurt by lower iron ore prices while Fortescue shed 3.4%. 

Gold miner Newmont completed the sale of three mines for US $1.7 billion, as part of its "non-core asset" divestment program. Shares fell 0.9%.

In the energy space, oil prices fell to a 12-week low amid reports OPEC+ will restart some halted production. Woodside shed 3%. 

The Healthcare sector looked more positive, but HealthCo Healthcare stumbled 7.8% as Healthscope failed to pay all rent due to the REITs for March 2025.

Looking ahead, US tariffs on Canada, Mexico and China will be implemented overnight, but Australian investors will also look at the National People’s Congress of China meeting kicking off Wednesday, hoping for stimulus measures. 

Locally, Coles, Northern Star and QBE are among companies trading ex-dividend tomorrow.