Australian superannuation balances impacted by US tariffs

U.S. President Donald Trump's new tariffs on steel and aluminum have caused a significant drop in the Australian stock market, impacting superannuation balances. The S&P/ASX 200 index lost $34 billion this week, following a $25 billion loss earlier. Superannuation funds, which typically invest around 60% in shares, are affected by this volatility. Experts note that while some Australians may see immediate declines, superannuation is a long-term investment that can recover over time. Younger Australians or those with lower balances are less affected by these fluctuations. However, older Australians nearing retirement may feel more vulnerable to market changes. Financial experts advise against frequent checking of super balances due to natural market fluctuations.