Morning Report 04 Mar 25: Dow drops 400 points on the first trading day of March

Wall Street saw declines as energy stocks dragged the S&P 500 down, while the Dow Jones fell on tariff concerns. US bond yields slipped following disappointing manufacturing data, while semiconductor shares also slumped. In contrast, European markets closed at record highs, driven by gains in defence stocks. Meanwhile, oil prices dropped to their lowest level this year as OPEC signalled plans to revive output, and iron ore fell to more than a six-week low amid tariff tensions. Closer to home, the ASX is set to open lower on Tuesday ahead of the Reserve Bank of Australia's meeting minutes. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.