S&P/ASX 200 Index (ASX: XJO) shares plunged 1.8% to a seven-month low of 7,818.3 points on Tuesday.
The benchmark index then regained some ground to close at 7,890.1 points, down 0.8%.
The market dive dragged scores of ASX 200 shares down to multi-year share price lows.
Today's rough trading session followed a major slide on Wall Street overnight.
The S&P 500 Index (SP: .INX) fell 2.7% and the Dow Jones Industrial Average Index (DJX: .DJI) lost 2.08%. The Nasdaq Composite Index (NASDAQ: .IXIC) crashed 4%.
As my colleague Bernd reported earlier, US President Donald Trump has cautioned Americans that they could be in for a "period of transition"' as he imposes new tariffs on trading partners.
The prospect of a weakened US economy appears to have sent shivers through global markets today.
Here are some of the higher-profile companies that hit new multi-year lows today.
Heavyweights among the ASX 200 shares reaching multi-year lows
CSL Ltd (ASX: CSL)
The share market's largest ASX 200 healthcare share hit an 18-month low of $250.10.
Wisetech Global Ltd (ASX: WTC)
The tech sector's biggest share tumbled to a 13-month low of $83.11 today.
Endeavour Group Ltd (ASX: EDV)
The ASX 200's fourth-biggest consumer staples share dipped to a 52-week low of $4.05.
Ampol Ltd (ASX: ALD)
The share market's fourth-largest energy share fell to a four-year low of $23.63.
Block CDI (ASX: XYZ)
The ASX 200's biggest buy now, pay later share sank to an 18-month low of $85.82.
Paladin Energy Ltd (ASX: PDN)
ASX 200's largest pure-play uranium share, Paladin, sank to a two-year low of $5.91.
Reece Ltd (ASX: REH)
ASX industrial share Reece dropped to a two-year low of $15.81.
NextDC Ltd (NXT)
The NextDC share price plunged to a 16-month low of $12.72.
Pilbara Minerals Ltd (ASX: PLS)
ASX 200 lithium share Pilbara Minerals dipped to a four-year low of $1.70.
Mineral Resources Limited (ASX: MIN)
Diversified mining share Mineral Resources fell to a near five-year low of $20.58.
Flight Centre Travel Group Ltd (ASX: FLT)
ASX 200 travel share Flight Centre dropped to a two-and-a-half-year trough of $14.25.
IDP Education Ltd (ASX: IEL)
The IDP Education share price fell to a six-year low of $8.76 per share.
Viva Energy Group Ltd (ASX: VEA)
The Viva Energy share price reached a five-year trough of $1.56 per share.
Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's Pizza share price tanked to an 11-year low of $25.76 per share on Tuesday.
Champion Iron Ltd (ASX: CIA)
ASX iron ore share Champion hit a two-and-a-half-year trough of $4.69.
