Australian shares dip on coronavirus fears, despite fresh Wall St records
ABCChina's plans to cut tariffs on some US imports have failed to boost the local share market, despite fresh record highs on Wall Street overnight. Market snapshot at 12:30pm : ASX SPI futures — 0.5pc at 6,947, ASX 200 +1.1 pc at 7,049 AUD: 67.1 US cents, 51.9 British pence, 61.1 Euro cents, 73.8 Japanese yen, $NZ1.041 US: Dow Jones +0.3pc at 29,380, S&P 500 +0.3pc at 3,346, Nasdaq +0.7pc at 9,572 Europe: FTSE 100 +0.3pc at 7,505, DAX +0.7pc at 13,575, CAC +0.9pc at 6,038, Euro Stoxx 50 +0.4pc at 3,487. Commodities: Brent crude +0.7pc at $US55.31/barrel, spot gold +0.1pc at $US1,568.10/ounce, iron ore +1.4pc at $US79.61/tonne The benchmark ASX 200 index was down 0.4 per cent at 7,019 by 12:45pm. Overnight, US stocks rallied to record highs after China said it would halve tariffs on about $US75 billion worth of US imports. Chinese tariffs imposed on some US imports in September last year will be reduced, with some retaliatory duties dropping from 10 per cent to 5 per cent and 5 per cent to 2.5 per cent.