ASX 200: Mining companies hit hard as Australian shares plunge on US-China trade war fears

S&P/ASX 200 opens slightly lower, before plunging more than 2% a few minutes into the session, erasing Tuesday's rebound

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Australian shares swung wildly early on Wednesday, wiping tens of billions of dollars of value from the market over concerns the world's two largest economies are headed for a full-blown trade war.

The S&P/ASX 200 opened slightly lower, before plunging more than 2% a few minutes into the session, erasing the rebound of the previous day. By midday, the benchmark had recovered to the 7,435 point mark, representing a 1% fall for the session.

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