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

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

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Speaker 1: Every afternoon, we've got the five stories that happened today

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Speaker 1: that you need to know about. Storynum more on. The

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

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Speaker 1: finish at seven than 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, Wistek 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, our Accessories Manufacturer, Motive, ZIPC, the Buinar

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Speaker 1: pay Later Group, and Brevel all tumble big time. In fact,

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

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

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Speaker 1: overnight as well in response to those tariffs. The world's

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Speaker 1: most important index, the S and P five hundred, lost

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Speaker 1: two trillion US dollars of value in one session. That's

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Speaker 1: about three trillion ossie. It was down five percent. By

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

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

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Speaker 1: is now twenty percent below it's twenty twenty one high.

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Speaker 1: That's what you call a majorrself off. Donald Trump, commenting

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Speaker 1: after the carnage, said, I quote him, I think it's

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Speaker 1: going well. The markets are going to boom, the stock

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

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Speaker 1: End quote. He also happened 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 quarter inflation numbers. A 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

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

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Speaker 1: Liberal Party's National Gas Plan. Prime Minister Anthony Aberan he

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Speaker 1: said to hit it fly to the US to meet

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Speaker 1: President Donald Trump as soon as possible if he wins

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Speaker 1: the three May election. Both leaders were at a Western

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Speaker 1: Sydney forum today. In fact, they ran into each other.

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Speaker 1: That's it for the afternoon report for Friday, the fourth

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Speaker 1: of April twenty twenty five. Make sure you hit follow

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Speaker 1: on the podcast. We will be back tomorrow morning with

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Speaker 1: the weekend edition of Fear and Greed Business News. I'm

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Speaker 1: Sean Elmer. Enjoy your evening,