ASX to fall, Wall St tumbles on renewed Trump trade wars

News Snapshot:

Australian shares are poised to open lower after US President Donald Trump threatened 25 per cent tariff rates on both Japan and South Korea as of August 1, leading US equities lower. The Dow Jones Industrial Average tumbled near 650 points near 2.30pm in New York. It closed down near 422 points. The president sent each nation a letter detailing his plans; he’s expected to send about 12 letters on Monday (Tuesday AEST). At a White House briefing, his spokeswoman said the deadline for trade deals will formally later on Monday be pushed to August 1 from July 9. The...