Australian shares have dropped further after US President Donald Trump confirmed March 4 tariffs. -AAP Image
The local share market's slide has intensified, with the bourse falling to its lowest level in eight weeks after US President Donald Trump affirmed tariffs are coming.
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The benchmark S&P/ASX200 index fell Friday by 95.8 points, or 1.16 per cent, to 8,172.4 while the broader All Ordinaries fell 102.2 points, or 1.2 per cent, to 8,403.9.
The ASX200 declined 1.5 per cent for the week, following its 3.0 per cent loss last week - its worst loss in more than two years.
It dropped 4.2 per cent for February, its worst monthly drop since a 7.3 per cent slide in September 2022.
It has also almost given up all of its gains for 2025, remaining in the green year-to-date by just 13.3 points, or 0.16 per cent.
The Australian dollar meanwhile had fallen to a 24-day low against its US counterpart, buying 62.14 US cents, from 62.93 US cents at 5pm on Thursday.
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