Markets dive again on tariff fears

After days of election campaigning focused on housing policy, the debate turned to skills training and tax reform as the Prime Minister and Opposition Leader targeted key seats.

The Federal Government has criticised the Opposition Leader Peter Dutton for his reaction to a report Russia wanted to station military planes in Indonesia.

Australia is seeking clarification from Indonesia after reports Russia has requested permission to station aircraft at a military airport in the Indonesian province of Papua.

Economists are predicting the new first home buyer policies announced by Labor and the Coalition could worsen the housing crisis.

After recovering yesterday, world markets have dropped again today as concerns grow about a likely trade war between the United States and China.

The US President Donald Trump has backed down on some of his most punishing trade tariffs. A 10 per cent tariff remains on all countries, but heavier "reciprocal tariffs" have been paused, except for those against China.

Donald Trump's second round of "Liberation Day" tariffs has come into effect today, hitting the countries most out of favour with his administration.

As Donald Trump's tariffs damage markets around the world, economists are warning the United States is at risk of slipping into recession and the Australian economy could suffer as a result.

The value of Australian shares has dropped by about $110 billion, or 4 per cent. The volatility has been triggered by the American President Donald Trump and his global tariffs.

There's been another large scale effort by cyber criminals to steal money from Australians, this time targeting superannuation funds.