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Speaker 1: Welcome to the Fear and Greed Business News Afternoon Report

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Speaker 1: for Friday, the fourth of April twenty twenty five. I'm

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Speaker 1: Sean Aylmer. Every afternoon, we've got the five stories that

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Speaker 1: happened today that you need to know about. Storingam more on.

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Speaker 1: The local share market fell two point four percent today

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Speaker 1: to finish at seven thousand, six hundred and sixty eight points.

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Speaker 1: That's about fifty seven billion dollars wiped off the market

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Speaker 1: in one session. For the week, the market lost about

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Speaker 1: four percent. Now that's the amount it lost for the

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Speaker 1: first three months of the year. Of course, this was

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Speaker 1: Donald Trump's tariff week. Energy stocks were among the worst

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Speaker 1: on the day thanks to falling all prices on the

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Speaker 1: back of fears about a recession in the US and

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Speaker 1: the rest of the world. Tech stocks consumed, discretionary and

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Speaker 1: utilities also sold off. US facing companies suffered most. Among

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Speaker 1: the large caps, Aristocrat Leisure, Macquarie Group, Wisteak Global, and

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Speaker 1: Woodside Energy. We're all lower, so to Santos. Among the

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Speaker 1: top two hundred car accessories, manufacturer Motive ZIPC, the buy

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Speaker 1: and Pay Later group in Brevel all tumble big time.

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Speaker 1: In fact, the only group that did ak the gold stocks,

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Speaker 1: typically a safe haven asset. Sorry Number two. Wall Street

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Speaker 1: tumbled overnight as well in response to those tariffs. The

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Speaker 1: world's most important index, the S and P five hundred,

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Speaker 1: lost two trillion US dollars of value in one session.

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Speaker 1: That's about three trillion Pussie. It was down five percent

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Speaker 1: by the clothes. The tech heavy Nasdaq is at its

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Speaker 1: lowest point since August. The Russell two thousand, which measures

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Speaker 1: smaller companies, is now twenty percent below it's twenty twenty

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Speaker 1: one high. That's what you call it. Majorrself off. Donald Trump,

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Speaker 1: commenting after the carnage, said, I quote him, I think

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Speaker 1: it's going well. The markets are going to boom, the

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Speaker 1: stock is going to boom. The country is going to boom.

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Speaker 1: End quote. He also opened the way for negotiations on tariffs,

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Speaker 1: saying he might reduce individual tariffs if other nations are

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Speaker 1: able to offer something phenomenal. That's his word. Sorry number three.

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Speaker 1: Amid the turmoil up bond markets, that's the group of

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Speaker 1: investors who spend their lives thinking about what interest rates

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Speaker 1: are going to do, and they're now pricing in four

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Speaker 1: rate cuts over the next year. In Australia, that's because

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Speaker 1: bond investors believe the global economy will slow significantly on

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Speaker 1: the back of those higher tariffs, and that will hit

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Speaker 1: the Australian economy, mostly via slowdown in Asia. Bond investors

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Speaker 1: are confident there will be a rate cut in May.

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Speaker 1: Between now and then we have a federal election and

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Speaker 1: the all important March Corter inflation numbers and zet economists

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Speaker 1: have even gone harder. They're calling for three successive rate cuts,

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Speaker 1: starting in May and finishing in August sorry number four.

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Speaker 1: An unknown number of superannuation fund members have lost thousands

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Speaker 1: of dollars out of their retirement savings in what appears

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Speaker 1: to be a coordinated cyber attack on Australia's super sector.

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Speaker 1: The fin Review is reporting at major industry funds, Australian

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Speaker 1: Retirement Trust, Australian Super Rest and host Plus we're all breached. Insignia,

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Speaker 1: the owner of one hundred and eighty year old MLC

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Speaker 1: brand and the largest retail superannuation fund, also suffered a

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Speaker 1: cyber attack. Ozzie Super said six hundred passwords had been breached,

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Speaker 1: while Insignia said one hundred of its members accounts had

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Speaker 1: been tampered with. Rest said eight thousand of its accounts

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Speaker 1: were affected. The amount stolen is unknown, though at least

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Speaker 1: a handful of members at Australian Super lost around one

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Speaker 1: hundred thousand dollars and the funds working on recovering that money.

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Speaker 1: And story number five in politics, Opposition leader Peter Dunn

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Speaker 1: claims gas prices will be fifteen percent cheaper under the coalition,

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Speaker 1: according to yet to be released modeling of the Liberal

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Speaker 1: Party's National Gas Plan. Prime Minster Anthony Abny said to

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Speaker 1: hit it fly to the US to meet President Donald

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Speaker 1: Trump as soon as possible if he wins the three

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Speaker 1: May election. Both leaders were at a Western Sydney forum today.

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Speaker 1: In fact, they ran into each other. That's it for

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Speaker 1: the afternoon report for Friday, the fourth of April twenty

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Speaker 1: twenty five. Make sure you hit follow on the podcast.

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Speaker 1: We will be back tomorrow morning with the weekend edition

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Speaker 1: of The Fast Five Business Years by Fear and Greed.

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Speaker 1: I'm Sean Elma. Enjoy your evening