End of Day Report – Tuesday 4 March: ASX 200 closes off lows, down 48 | Banks steady, tariffs in focus

The ASX 200 fell another 48 points today to 8198(0.6%). Trump’s tariff chaos continues with Mexico and Canadian levies due to take effect in days. Canada has already fired back, losses were tempered as banks found a footing. CBA rose 0.4% with WBC up 0.2% and the Big Bank Basket at $254.30 (). Financials were weaker, MQG down 1.2% and insurers down heavily as Alfred comes to QLD. QBE down 2.0% and SUN down 2.0%. REITs were weaker, GMG off another 0.9% with DXS bucking the trend up 1.6%. Healthcare weaker though CSL up 1.0% in defensive buying. Industrials fell across the board. Some love found for rate sensitive stocks, QAN rose 2.1% on oil price falls. Retail pushed lower, LOV down 3.5% and TPW off 5.3% with WEB falling 4.4% and GYG dropping another 4.4%. Tech dropped with the index down 0.8% Resources could have been worse. Iron ore stocks found some buying, BHP down 0.3% with RIO similar, FMG fell 3.4% with PLS down 3.8% and MIN off 10.2%. Gold miners firm but unspectacular, NEM down 0.9% and EVN up 1.6%. Energy stocks suffering big falls, WDS off 3.1% and STO down 4.7% with uranium stocks still toxic. In corporate news, IFL fell 5.6% as it declined to make an early debt repayment, HCW dropped 7.8% as Healthscope failed to pay some rental invoices. In economic news, RBA minutes showed RBA in no hurry to cut rates and retail sales rose by 0.3% in January. Steady as she goes. Asian markets weaker but 10-year yields continuing to fall to 4.27%.

Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.

If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.
 
 Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.