ASX 200: Australian dollar dives and share market sheds $160bn in 'bloodbath' opening amid US trade war gloom

Benchmark S&P/ASX 200 sank 6% within minutes - back to levels not seen since late 2023 - before early losses were trimmed to be down 4% by midday

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More than $160bn was wiped off Australian shares early on Monday, before the market recorded a modest reprieve, amid fears of a full-blown trade war and global recession.

The benchmark S&P/ASX 200 sank more than 6% to trade below the 7,200 point mark within minutes of the market opening on Monday, sending it back to levels not seen since late 2023.

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