ASX 200 Plunges Wednesday as World Awaits Tariffs

• ASX 200 has a tough Wednesday session.
• Americans will be levying tariffs on Wednesday, as the world awaits those details.
• Global demand could be crippled and caution seems to be the order of the day.

The ASX 200 had a rough session on Wednesday as traders turned their focus on the looming “Liberation Day” tariffs from the US. Donald Trump has made this the dominant market narrative, leaving uncertainty high. The ASX 200 has been weak for some time and is now consolidating in a range that could form the flag of a larger bearish pattern. If that plays out, a major sell off could be on the horizon.

Traders are in wait-and-see mode ahead of the US announcement later in the day, hoping for clarity on global trade. Meanwhile, the 50-day EMA is nearing a cross below the 200-day EMA, the infamous “death cross,” a bearish signal, albeit often a lagging one.

ANZ Group Holdings Limited (ANZ)

ANZ gained 0.61% on Wednesday, continuing to hover around the 200-day EMA. The AU$30 level remains a key resistance point, with the market repeatedly attempting to break above it. Over the past year, ANZ has moved largely sideways, gaining just 0.92%. However, with volume picking up, there are signs that momentum could be returning.

RIO Tinto Limited (RIO)

RIO Tinto dropped 1.73% on Wednesday, continuing its search for a bottom as consolidation persists. The AU$114 level remains a key support zone, with buyers repeatedly defending it. Volume has increased over the past few weeks, signalling the potential for a larger move ahead. Over the past year, RIO has fallen by 6.13%, pressured by worries about a potential global economic slowdown that could further dampen demand for commodities.

CAR Group Limited (CAR)

CAR Group Limited gained 1.29% on Wednesday, closing at AU$33.07. Despite the bounce, the stock remains under pressure, down 10.86% over the past month and 7.37% over the last year. A “death cross” has already formed, but the recent rebound has sparked some optimism among bullish traders. The 200-day EMA around AU$36.50 is a key level to watch if buyers push for a recovery. However, Wednesday’s shooting star candlestick signals that upward momentum could struggle to gain traction.

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