SYDNEY, April 7, 2025 (BSS/AFP) - Australian blue-chip stocks sank six percent after trading opened on Monday, as financial turmoil sparked by US tariffs continued to sweep through global markets.

A benchmark index of the country's largest 200 listed companies plunged more than 6 percent after opening, as the fallout from US President Donald Trump's trade blitz continued to unnerve investors.

Australia's blue-chip ASX200 index has now sunk more than 10 percent since the start of the year.

It dipped Monday to its lowest point in almost 15 months.

Prime Minister Anthony Albanese said his government was "preparing for further uncertain times".

"You can't change global events. What you can do is prepare for them," he told reporters on Monday.

The US slapped 10 percent tariffs on Australian goods as part of last week's sweeping announcement.