Australian shares are on track to open lower Friday following sharp losses across global markets as investors braced for the impact of the Trump administration's trade war on inflation and economic growth.
On the macroeconomic front, Australia's monthly household spending indicator for February is due at 11:30 am Sydney time.
Wall Street fell sharply on Thursday in the wake of the Trump administration's sweeping tariff policy. The Nasdaq Composite tumbled 6%, the S&P 500 plunged 4.8%, and the Dow Jones Industrial Average lost 4%.
In corporate news, Rio Tinto Group's (ASX:RIO) board said the shareholders' vote on the dual-listing resolution requires a joint electoral procedure. This means the results of Rio's vote in London held on April 3 will be announced after the company's shareholders in Australia hold their annual general meeting on May 1.
Elsewhere, ANZ Group Holdings (ASX:ANZ, NZE:ANZ) said Oliver Wyman's review found a generally positive culture within its institutional and market divisions but identified distinct sub-cultures within the business that could lead to workplace misconduct or a lack of risk awareness in decision-making.
Australia's benchmark index fell 0.9%, or 74.80 points, to close at 7,859.70 on Thursday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.