The Australian Securities Exchange (ASX) saw a drop of at least AU$26 billion as global markets tumbled, driven by concerns that the United States might enter a recession due to President Donald Trump's trade policies.

The ASX opened at a seven-month low, falling 101.6 points, or 1.3%, at 10:15 am. By midday, the ASX 200 had fallen about 1.8%, wiping out more than AU$50 billion off the bourse. However, the market managed to recover somewhat, closing down 0.9%, still resulting in a loss of at least AU$26 billion,

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