ASX recovers but $100 billion still wiped out
The Australian Stock Exchange recovered slightly after a massive opening loss of $160 billion today, but has still lost $100 billion for the day as of about midday AEST.
The ASX 200 fell 6.4 per cent to a 16-month low of 7177.3 after the exchange opened at 10am.
At about noon, it was down 3.7 per cent at 7383.1, rebounding from that low.
There are fears the ASX could face another wipeout today. (Getty)
Mining companies and the big four banks were among the biggest drops, which came even after the ASX-200 opened at a 100-day low of 7453.90.
Asian markets also plunged today, deepening a global stocks rout triggered by US President Donald Trump's trade war.
Japan's benchmark Nikkei fell by more than eight per cent shortly after opening.
The share average, ...