Shares slip as US tariffs take hold, trade war looms

The benchmark ASX 200 was a sea of red in morning trade before recovering later in the day. (Bianca De Marchi/AAP PHOTOS)

Australian shares have clawed back some early losses but finished the day down, as a looming trade war sent investors running for cover.

The benchmark S&P/ASX200 index fell 47.6 points, or 0.58 per cent, to 8,198.1, while the broader All Ordinaries lost 57.9 points, or 0.68 per cent, to 8,420.9.