Markets in the spotlight: tariff turmoil rattles global markets, ASX futures rise despite Wall Street slide.
Tariff jitters sparked by US President Donald Trump are unsettling investors worldwide. U.S. equities slipped overnight, yet ASX futures hint at a potential uptick.
Follow our live blog for up-to-the-minute financial news and expert analysis from our specialist reporters. Disclaimer: this blog is not investment advice.
Key Events
- 7 minutes ago, Mon 23 Feb 2026 at 10:15pm
- 36 minutes ago, Mon 23 Feb 2026 at 9:46pm
- 2 hours ago, Mon 23 Feb 2026 at 8:05pm Pinned: 1h ago, Mon 23 Feb 2026 at 8:30pm
Market Snapshot
Reporting by Daniel Ziffer
ASX 200 futures: +0.3% to 9,002 points
Australian dollar: -0.4% to 70.5 US cents
Dow Jones: -1.6% to 48,823 points
S&P 500: -1.2% to 6,826 points
Nasdaq: -1.4% to 22,561 points
FTSE: Flat at 10,864 points
EuroStoxx: -0.4% to 627 points
Spot gold: +2.4% to $US5,224/ounce
Brent crude: -0.3% to $US71.55/barrel
Iron ore: -0.1% to $US99.27/tonne
Bitcoin: -5.1% to $US64,131
Prices current around 7:30am AEDT.
Live updates on major ASX indices:
Key Event
7m ago Mon 23 Feb 2026 at 10:15pm
Seven boss abruptly exits Southern Cross ahead of results
By Stephanie Chalmers
In a development that will shock the ASX after trades closed yesterday, Southern Cross Media announced that chief executive Jeff Howard has stepped down with immediate effect. This follows longtime Seven West Media chairman Kerry Stokes’s Friday resignation, a move that had been anticipated since the media merger between Southern Cross and Seven was announced. The change marks Stokes’s 30-year involvement with the Seven Network coming to an end.
Southern Cross said Howard’s departure was to accelerate the company’s post-merger strategy. Howard had led Seven since 2024 and previously served as chief financial officer from 2020.
Interim leadership will be provided by Heith Mackay-Cruise, who will take on the role of executive chairman, replacing both Stokes and Howard as a search for a new CEO begins.
The firm reported a half-year loss of $7.4 million and suspended its interim dividend, while underlying net profit rose to $12.8 million.
14m ago Mon 23 Feb 2026 at 10:08pm
Payments inquiry underway
By Daniel Ziffer
The House Standing Committee on Economics is advancing a high-profile inquiry into our payments system, formally titled the Inquiry into Schemes, Digital Wallets and Innovation in the Payments Sector. You can follow the proceedings via this link.
23m ago Mon 23 Feb 2026 at 9:59pm
Capital gains tax in the spotlight
By Daniel Ziffer
A Greens-led Senate inquiry in Melbourne is focusing on the capital gains tax discount and its impact on housing affordability. Private researcher Alan Kohler contributed on the first day, drawing on his years of analysis on housing affordability. Kohler notes that house prices began outpacing wage growth after the capital gains tax discount was introduced in September 1999. He argues that the capital gains tax concession, being cheaper than inflation, contributes to inequality because capital income is taxed less than labor income.
However, Kohler warns that removing or reducing the discount could push rents higher, as investors may demand higher yields to compensate for the loss of the tax advantage. In his view, eliminating the discount could push up rents as landlords adjust expectations.
31m ago Mon 23 Feb 2026 at 9:51pm
More on homeowners lowering home insurance costs
By Daniel Ziffer
A notable video package by Adelaide Miller and team highlights strategies homeowners use to cut insurance premiums.
Key Event
36m ago Mon 23 Feb 2026 at 9:46pm
Wall Street declines led by Dow drop
By Stephanie Chalmers
U.S. market close figures show: Dow -1.7%, S&P 500 -1.0%, Nasdaq -1.1%.
39m ago Mon 23 Feb 2026 at 9:43pm
Home insurance premiums surge 51% in five years
By Daniel Ziffer
Insurance costs have surged as inflation persists. Finity data shows home insurance premiums climbing 51% over five years, with the highest averages in disaster-prone regions. Darwin, Sydney, and Brisbane areas show notable variations. Finity’s Stephen Lau cites climate-related disasters and rising construction costs as major drivers. The Resilience Building Council is collaborating with homeowners to reduce risk and possibly lower premiums through safer building practices. A colleague, Adelaide Miller, has produced a detailed report on this topic.
42m ago Mon 23 Feb 2026 at 9:40pm
Gender pay gap data due next week
By Daniel Ziffer
The Workplace Gender Equality Agency will release combined private and public-sector employer gender pay gap data on March 3, a first-ever joint release. Historically, about 5 million workers were covered. Nationally, progress in reducing the gap remains mixed, and the data will spark widespread discussion in workplaces.
52m ago Mon 23 Feb 2026 at 9:30pm
Trump tariffs 'unsettle' investors
By Daniel Ziffer
Market watchers warn that renewed tariff measures by the Trump administration inject uncertainty. Daniela Hathorn of Capital.com highlights several points: global markets started the week on the back foot due to renewed trade tensions, sticky inflation data, and geopolitical risks. While a Supreme Court ruling initially suggested a possible tariff rollback, the administration then imposed a universal 15% tariff for up to 150 days, keeping overall levels high and commentating on ongoing policy uncertainty. This has dampened risk appetite as markets reassess growth and potential retaliation. The temporary cap could limit leverage in talks with major partners like China and India, potentially reshaping negotiating dynamics but also leaving the door open to longer-term shifts in tariff levels.
1h ago Mon 23 Feb 2026 at 9:09pm
AUD stability in focus amid tariff talk
By Daniel Ziffer
ANZ economists note the AUD/USD around 0.7050 as tariff uncertainty persists. Domestic data, the January CPI, is anticipated to show a 0.4% monthly rise and 3.7% annual rate, with trimmed mean near 3.3%. They don’t expect this data to alter RBA rate expectations or materially move AUD/USD unless new external shocks occur, such as geopolitical tensions or further tariff announcements.
1h ago Mon 23 Feb 2026 at 9:02pm
Can the ASX rise despite Wall Street slide?
By Stephanie Chalmers
A quick look at futures suggests the ASX SPI 200 may edge higher, implying the local market could follow a stronger open even as U.S. indices decline. Final Wall Street numbers are forthcoming.
1h ago Mon 23 Feb 2026 at 8:59pm
Trump tariffs 'unsettle' investors
By Daniel Ziffer
(Repeat of the earlier tariff-analysis piece.)
1h ago Mon 23 Feb 2026 at 8:45pm
Wake-up call on Trump turmoil?
By Daniel Ziffer
A concise recap of the key developments surrounding Trump, tariffs, and related market reactions.
1h ago Mon 23 Feb 2026 at 8:30pm
Trump Tower on the Gold Coast #forrealz
By Daniel Ziffer
A local development firm announces plans for a $1.5 billion Trump Tower on the Gold Coast, signaling high-profile branding ambitions there. The project is described with luxurious specifications and a projected height of 340 meters, with apartments likely starting at $5 million each.
2h ago Mon 23 Feb 2026 at 8:05pm
Let’s get going
By Daniel Ziffer
ABC’s Daniel Ziffer introduces the day’s coverage, noting the overnight US declines in Dow, S&P, and Nasdaq, and predicting a softer open for the ASX 200 futures. The message remains clear: this is live news coverage, not financial advice, with ongoing updates.
