Latest / Best of Business / Murray Olds: Australian correspondent on the state of the ASX following Trump's tariffs update

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Murray Olds: Australian correspondent on the state of the ASX following Trump's tariffs update · Best of Business

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  Speaker 1: You're listening to a podcast from news Talk zed B.
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  Speaker 2: Murray is with us now in Australia. Murray, good afternoon,
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  Speaker 2: Hello Ryan, good afternoon. How's the AA six doing after
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  Speaker 2: the big drop yesterday?
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  Speaker 3: Yes, I got my screen open here I knew you're
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  Speaker 3: going to ask me, and this is less than an
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  Speaker 3: hour ago. So what's are looking at about forty five
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  Speaker 3: minutes ago? The AX up one point eight percent on
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  Speaker 3: the day. The Australian dollar up point seven of one
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  Speaker 3: percent today to sixty point two to three US since
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  Speaker 3: lost one hundred and ten billion dollars yesterday, So look
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  Speaker 3: a little bit of recovery today. That dollar tanking yesterday,
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  Speaker 3: by the way, the first time since the pandemic, the
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  Speaker 3: biggest intra day fall since the two thousand and eight
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  Speaker 3: global financial crisis. So look, there was a lot of
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  Speaker 3: red ink around yesterday, but today a little bit of
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  Speaker 3: a pickup. But look, we still are in the deep
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  Speaker 3: in the red since the start of the year so far.
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  Speaker 3: In April, the ASX two hundred, the top two hundred
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  Speaker 3: stocks in the Australian share market, layed down by six
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  Speaker 3: percent and it's only the eighth day of the month today,
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  Speaker 3: and we've also had since January. The start of January,
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  Speaker 3: the benchmark's down nearly ten percent, So it hasn't been
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  Speaker 3: a happy year for investors up to this point. We've
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  Speaker 3: got business confidence figures already negative last month, even worse
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  Speaker 3: now after Donald Trump's tariffs, and the Westpac Bank has
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  Speaker 3: just released latest consumer confidence data for April. The big
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  Speaker 3: takeaways we're told confidence down six percent amongst consumers because
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  Speaker 3: of the Trump tariff war, the slide of the share
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  Speaker 3: market even lower amongst people survey after the tariffs were announced,
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  Speaker 3: and consumers definitely filling a pinch family finances front and center.
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  Speaker 3: So both political leaders over here aren't banging the drum
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  Speaker 3: about the economy. Was it Bill Clinton who's had that
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  Speaker 3: sign on his desk? It's the economy stupid. Both of
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  Speaker 3: these half what's over here should have the same bloody
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  Speaker 3: sign on their desks. Because no one cares about the
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  Speaker 3: never never you atomic energy plan of Dutton or the
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  Speaker 3: fact that Albanez has done something to save as Seal
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  Speaker 3: and Tasmania. It's about putting vetrol in the car and
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  Speaker 3: groceries on the table.
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  Speaker 2: Now this debate tonight they're going to go head to head.
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  Speaker 2: It's in Western a group of people called the People's Forum.
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  Speaker 2: Have I got this right? From Sky News? Will be
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  Speaker 2: held in Western Sydney and both leaders will answer questions
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  Speaker 2: from a group of undecided voters. Is there like a
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  Speaker 2: moderator or is it just all on for young and
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  Speaker 2: old from the crowd.
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  Speaker 3: This is going to have to be moderated to keep
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  Speaker 3: them in some sort of order. It's allegedly undecided voters. Mate,
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  Speaker 3: it's Sky News. You know it's going to be stacked
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  Speaker 3: with a bunch of Dutton lovers, anti Elbow. You know
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  Speaker 3: it's going to be stacked with rivets. The Murdoch fingerprints
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  Speaker 3: are all over it. It's jointly run by the Daily
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  Speaker 3: Telegraph as well the Daily You know Trumpeter in fact
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  Speaker 3: here and he gets the mood of paper here. But
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  Speaker 3: listen to Albanezy you know he is. He's a Sydney boy,
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  Speaker 3: comes from this, you know, the inner western suburbs of Sydney.
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  Speaker 3: He won't be frightened to get out Western Sydney. In
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  Speaker 3: the Sydney suburbs. You've got the fact that Albanezey also
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  Speaker 3: took on Scott Morrison in the last debate in twenty
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  Speaker 3: twenty two, and he cleaned him up that night, not
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  Speaker 3: saying it's going to happen to night. Peter Dutton has
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  Speaker 3: improved out of sight the last forty eight hours he
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  Speaker 3: was drifting. I went back and had to look Ryan look.
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  Speaker 3: Peter Dutton entered Parliament in two thousand and one. He
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  Speaker 3: was a minister under John Howard, Tony Abbott, Malcolm Turmbull
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  Speaker 3: and Scott Morrison. But he's looked like a complete bloody
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  Speaker 3: novice since the campaign started. And it's day eleventh to
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  Speaker 3: day he's looked like a rabbit in the headlights. He's
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  Speaker 3: finally turning up at petrol stations putting gas in the cars,
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  Speaker 3: saying look, I'm going to catch you. You know your
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  Speaker 3: petrol bill. Even turned up in the Adelaide service station
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  Speaker 3: yesterday with a great big petrol tanker a slogan on
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  Speaker 3: the side. Saved twenty five cents a leader. Why wasn't
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  Speaker 3: doing that in day one? I don't know.
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  Speaker 2: No campaigns do weird things to people though, I mean
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  Speaker 2: doesn't matter. You know how long you've been around in
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  Speaker 2: politics that people just turn into weirdos on a campaign
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  Speaker 2: when the pressure is on them, don't they.
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  Speaker 3: Well, look, I do agree with that. I mean everything
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  Speaker 3: thesis that I read yes yesterday morning. I did I
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  Speaker 3: get lost in these campaigns. The theory being that Peter
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  Speaker 3: Dutton has always had someone else to as a minister.
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  Speaker 3: He's made mistakes, you know, defense blah blah blah blah
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  Speaker 3: blah blah blah. But we all make mistakes, but there's
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  Speaker 3: always been someone the clean up after him, a prime
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  Speaker 3: minister like John Howard for example. Howard was the last
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  Speaker 3: great Australian leader. In my view, I think Howard was
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  Speaker 3: a wonderful politician, a great unifier. Look at what happened
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  Speaker 3: to Port Arthur, all those people slaughtered down there in Tasmania.
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  Speaker 3: Howard stood up, took on the gun lobby and he
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  Speaker 3: persuaded them to give up their guns. Now, for me,
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  Speaker 3: one of the single most important acts of political courage
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  Speaker 3: I've ever seen. And John Howard had that ticket. I'm
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  Speaker 3: not sure, not sure Peter Dutton's got the Scott Morrison
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  Speaker 3: certainly didn't.
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  Speaker 2: Yeah, I'm not sure. We've got many around the world,
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  Speaker 2: not just in Australia. Murray, appreciate your time. Marie Olds
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  Speaker 2: are Australia correspondent and we're looking forward to the debate tonight.
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