Australia's sharemarket has retreated from the previous week's record high as investors weigh the move by the White House to impose tariffs on imports
The S&P/ASX200 fell 55.4 points on Monday, down 0.61 per cent to 9,026, as the broader All Ordinaries gave up 51.7 points, or 0.56 per cent, to 9,251.5.
Gold miners were an exception, helping lift the basic materials sector 1.2 per cent as investors sought safe havens after US President Donald Trump threatened to lift global tariffs to 15 per cent following a US Supreme Court ruling his previous tariffs were unlawful.
The Australian dollar is buying 70.69 US cents, up from 70.43 US cents on Friday afternoon.
