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AAP
AAP
Business
Derek Rose

Australian shares drop as Trump rally loses steam

United States Donald Trump Australian Dollar ANZ
Australian shares have snapped a three-day rally, slipping 0.6 per cent. (Bianca De Marchi/AAP PHOTOS)

The local share market has slipped for the first time since Donald Trump's inauguration amid fears of what the US president's promised tariffs might do for trade with China.

The benchmark S&P/ASX200 index on Thursday dropped 51 points, or 0.61 per cent, to 8,378.7 while the broader All Ordinaries dropped 51.4 points, or 0.59 per cent, to 8,629.1.

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