Morning everyone. Shares on Wall Street and on European bourses have plunged overnight as financial markets flashed a red alert about the global economy in the wake of Donald Trump’s assault on free trade. We have continuing news and analysis for you.
At home we have the controversial views of a federal Liberal candidate, continued outback flood peril, and how big is the political divide between young men and women?
Australia
Flooded out | The entire population of the tiny Queensland town of Thargomindah has been forced to flee their homes after levee breaks and record flooding eclipsed even the 1974 disaster.
Fringe views | The Liberal candidate for the NSW seat of Whitlam expressed a string of controversial views on fringe podcasts before his preselection, including the claim that women should not serve in combat positions with the Australian Defence Force.
Trade beef | The Albanese government has offered $1bn in loans to help Australian exporters after the Trump tariff hit, but it could cost the economy $27bn. After Donald Trump railed about Australian restrictions on American beef, we factcheck his claims and ask what the tariffs mean for our farmers.
‘You do not need fixing’ | As the New South Wales ban on gay conversion practices comes into effect today, people in the community express their relief and excitement.
Threat charge | A Victorian man has been charged for allegedly sending an email to a federal politician in which he threatened to kill them.
World
‘I heard them die’ | A survivor from a massacre of Palestinian paramedics and rescue workers in Gaza has said he saw Israeli troops open fire on a succession of Red Crescent ambulances and rescue vehicles and then use a bulldozer to bury the wreckage in a pit.
Market meltdown | Global financial markets are in turmoil after Donald Trump’s escalating trade war knocked trillions of dollars off the value of the world’s biggest companies and heightened fears of a US recession. Apple and Nvidia lost a combined total of $470bn by midday New York time. In London, the FTSE100 suffered its worst day for eight months. Economists have been stunned by Trump’s “idiotic” tariffs and the apparently crude way they were calculated. European leaders called the tariffs “fundamentally wrong”, China has condemned “unilateral bullying” and the UK government is preparing retaliatory measures. In Washington, the Democrats slammed the White House for “creating chaos”. Meanwhile JD Vance said Elon Musk would remain a “friend and an adviser” after he leaves his current “Doge” after reports about his future. Follow developments live.
Insurance risk | The climate crisis is on track to destroy capitalism, a top insurer has warned, due to the vast cost of extreme weather impacts.
‘Political’ court | Hungary will leave the International Criminal Court, the prime minister, Viktor Orbán, said as he welcomed his Israeli counterpart, Benjamin Netanhayu – the subject of an ICC arrest warrant – to Budapest.
Andaman arrest | Indian police said they had arrested a US tourist who snuck on to one of the highly restricted Andaman islands carrying a coconut and a can of Diet Coke to a tribe untouched by the modern world.
Full Story
Newsroom edition: have vibes replaced policy in this election?
Bridie Jabour talks to the editor, Lenore Taylor, the head of newsroom, Mike Ticher, and the deputy editor Patrick Keneally about holding politicians to account and if voters deserve more from their leaders.
In-depth
Voting trends among Gen Zers in the western world point to young men favouring more rightwing parties while young women are leaning more to the left. The divide could have an impact in the federal election, where many of the younger generation will be voting for the first time. Benita Kolovos speaks to some younger voters about the gender divide – “there’s this sort of us v them kind of mentality” says one – while a date-gone-wrong showed Grace Richardson (pictured) that the hill was “much steeper” than she thought.
Not the news
This week’s leading question is posed by a mother who finds her 15-year-old son “filled with attitude, disrespectful behaviour and is just horrid”. She says that she “hates” him and can’t stand to be around him. She asks Eleanor: how can she overcome these feelings?
Sport
Formula One | Max Verstappen was unhappy with the way his Red Bull team sacked their driver, Liam Lawson, after just two races and replaced him with Yuki Tsunoda from sister team Racing Bulls, speaking in the buildup to this weekend’s Japanese Grand Prix.
Football | Ange Postecoglou’s Spurs team face a stiff test away at Chelsea this morning as he tries to keep the vultures at bay. Follow live.
Women’s football | The United Kingdom appears certain to host the 2035 Women’s World Cup after Fifa said announced it is the sole bidder, while the 2031 edition is set for the US.
Media roundup
The Trump tariffs could force the Reserve Bank to cut rates four times this year, according to the Financial Review, while The Australian reports the prime minister has ordered the stockpiling of critical minerals in order to beat the impact of the new levies. The Herald Sun explains to Melbourne readers how their commutes will change when the metro tunnel opens this year. People power in Clovelly has saved an ancient fig tree from the chainsaw, the Sydney Morning Herald reports.
What’s happening today
Sydney | Fair work resumes their hearing between the NSW government and hospital psychiatrists.
Arts | The Dark Mofo winter feast program will be announced at 10am.
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Brain teaser
And finally, here are the Guardian’s crosswords to keep you entertained throughout the day. Until tomorrow.
