ASX 200 investors brace for $115 billion crash on US recession fears

More than $114 billion could be wiped off the Australian sharemarket on Monday after China retaliated against the Trump administration's trade tariffs, sharply increasing investor and economist concerns that the world's largest economy is heading toward a recession this year. Wall Street's three major indexes have dropped more than 9 per cent since Donald Trump unveiled sweeping tariffs last week. The S & P 500 shed nearly 6 per cent on Friday while the Nasdaq sank 5.8 per cent - placing it firmly in a bear market, down more than 20 per cent from its recent peak. Loading…