Morning Report 07 Mar 25: S&P 500 hits lowest levels since early November on trade policy fatigue

Tariff policies remain a key driver of market volatility, though President Trump has announced a delay on Mexico tariffs. The S&P 500 has dropped to its lowest level since early November, while stocks like Marvel Technology and Victoria’s Secret are struggling due to weak forecasts and macroeconomic risks. US bond yields have risen following labour market data, and the European Central Bank has cut rates again, though a pause in April is increasingly likely. Meanwhile, copper has surged to a four-month high while oil remains flat in choppy trading. Looking ahead, Aussie shares are expected to fall further from 11-week lows.

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