Stocks, currencies, bonds and commodities have all felt the impact as China responds to US tariffs. The Aussie and Kiwi dollars fell markedly, whilst US equities plunged and bond yields fell sharply. Phil Dobbie talks to NAB’s Gavin Friend about where we go from here – could the turmoil on the markets continue, or will a solution be found? To add to the uncertainty, Saudi Arabia claims four of its vessels have been sabotaged near the Strait of Hormuz just as Mike Pompeo makes an unscheduled visit to the EU to talk about what to do about Iran. They also discuss yesterday’s fall in housing loans in Australia and what to look for in today’s NAB Business Survey.