** Shares of Nickel Industries NIC.AX fall as much as 8.7% to A$0.470, their lowest level since late April 2020

** Stock last down 4.4%

** Prices of base metals in major consumer China slide, with nickel SNIcv1 down 6.7%, as the escalating global trade war fueled fears of a recession MET/L

** Australia's benchmark S&P/ASX 200 index .AXJO down 3.7% after hitting its lowest level since December 2023 .AX

** NIC down 37.6% YTD

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))