FEAR & GREED | Business News Afternoon Report | Trump fails to impress
Apr 2, 2026
Markets reacted to a disappointing national address that lifted oil and weighed on the ASX and aussie dollar. Political speeches sparked backlash and debate over direct communication versus social media. An inquiry criticised ASX culture for prioritising returns over infrastructure. KMD Brands plunged after an emergency capital raise. NASA’s Artemis 2 launched, marking a crewed moon mission.
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Trump Address Triggers Risk-Off Market Move
- Markets dropped after US President Donald Trump's national address failed to provide a timeline for the end of the Middle East war.
- Oil rose, Asia shares fell, ASX 200 closed down >1% and the Aussie dollar slipped below 0.69 US, with tech stocks hit hardest.
PM's National Address Backfires Politically
- Anthony Albanese's national address drew criticism for using broadcast airtime for a message opponents said could've been a social post.
- The speech prompted a pre-speech rush to buy petrol and political backlash from Angus Taylor and defence from the deputy PM.
Inquiry Finds ASX Culture Prioritised Returns Over Resilience
- A nine-month probe found ASX management prioritised shareholder returns over stable market infrastructure and adopted tactical fixes rather than root-cause solutions.
- The independent panel led by Rob Whitfield criticised an insular, defensive ASX culture focused on minimum standards.