The ASX 200 fell 38 points (-0.45%) to 8380 amid market reactions to the president-elect's tariff plans, which could see a modest increase in tariffs on Chinese imports. Energy stocks declined following a 3.1% drop in crude oil prices, while the banking sector was pressured by APRA's decision to maintain the mortgage serviceability buffer. Despite a slight recovery in iron ore prices, gold stocks suffered losses due to geopolitical developments and fiscal policy changes.
The ASX 200 fell 18 points (-0.22%) to 8307 by 2.00pm AEDT, retreating from early gains after Nvidia's disappointing Q3 earnings and lower Q4 revenue guidance raised concerns. Geopolitical tensions and a rejection from trend channel resistance prompted investors to adopt a cautious stance.In sector performances, consumer discretionary stocks dropped nearly 3% from record highs, while technology shares were impacted by Nvidia's results. Gold mining stocks gained as bullion prices rebounded, and the banking sector showed mixed results among major banks.
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