BUZZ-Australian Mining stocks drop on US tariff impact worries

Reuters
04-02
BUZZ-Australian Mining stocks drop on US tariff impact worries

** Australian mining stocks .AXMM fall 1.6% to 5256.9, their lowest since March 14

** "This appears to be due to worries about the impact of the tariffs on China," said Shane Oliver, chief economist and head of investment strategy at AMP

** China is Australia's top trading partner

** Sector giants Rio Tinto RIO.AX and BHP Group BHP.AX shed 1.2% and 1.4%, respectively

** AXMM has lost 0.02% YTD vs the benchmark S&P ASX200 .AXJO which has seen a 2.8% decline so far this year

(Reporting by Jasmeen Ara Shaikh and Roshan Thomas in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))

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