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The Australian share market experienced significant losses, dropping by over $50 billion, primarily driven by investor uncertainty regarding the US economy. This decline was exacerbated following a Fox News interview with US President Donald Trump, where he expressed hesitancy about predicting a recession, indicating a period of economic transition. The tech sector faced the brunt of these losses, with stocks like Tesla plummeting by 15%, resulting in a staggering halving of its value since December. Such volatility in response to political statements showcases the interconnectedness of global markets and investor sentiment toward economic conditions.