ASX 200: Mining companies hit hard as Australian shares plunge on US-China trade war fears

The S&P/ASX 200 opened lower, then plummeted over 2% in a few minutes, erasing Tuesday’s gains amid fears of a trade war between the US and China. The market recovered slightly by midday, down 1% to 7,435 points. The volatility wiped out billions in market value, reflecting concerns about global economic stability.

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