2 compelling ASX shares I'd buy now following the tariff stock market pain

These investments could make excellent buys in the current market sell-off.

The ASX share market has taken a tumble after the latest tariff announcement by US President Trump. Every country gets a tariff of at least 10%, with the EU, China, India, Vietnam and multiple other countries receiving an even higher tariff rate.

It's a sea of red on the stock market today, with the S&P/ASX 200 Index (ASX: XJO) down 1%. Businesses involved in exporting to the US have seen their share prices hurt further, such as Cettire Ltd (ASX: CTT) and Breville Group Ltd (ASX: BRG).

Amid the pain, the valuations are getting more attractive, in my eyes. Below are two of the investments I'd buy thanks to lower prices.

Smiling man sits in front of a graph on computer while using his mobile phone.

Image source: Getty Images

Global X Fang+ ETF (ASX: FANG)

The US share market is experiencing significant volatility – the FANG exchange-traded fund (ETF) is down another 2.7% today and it's now down more than 18% since 18 February 2025. I'm calling this an ASX share because we can invest in it on the ASX.

The Global X Fang+ ETF is invested in some of the companies that are experiencing declines right now, such as Nvidia, Apple, Microsoft, Meta Platforms, Amazon and Broadcom.

With such high weightings – around 10% – to each of its 10 holdings, the FANG ETF has concentrated exposure to the decline of the US tech titans.

The fund has fallen further than the overall global share market, but I believe this is opening up a better opportunity.

These businesses are still the same as they were at the start of the year. They are still developing AI, investing in cloud computing, growing their offerings globally and so on.

I don't know what's going to happen this year, but I think the tech giants will be collectively worth substantially more in five or ten years. So, this sell-off is appealing to me.

TechnologyOne Ltd (ASX: TNE)

I'd call this ASX tech share a buy because of its strong growth outlook, lower valuation and defensive earnings.

A large majority of the company's earnings are generated in Australia and New Zealand, though it does have a growing presence in the UK as well. In the FY24 result, total annual recurring revenue (ARR) grew 20% year over year to $470.2 million, with UK ARR jumping 31% to $34.7 million.

The business is aiming for a long-term target of at least $1 billion of ARR by FY30, so it could roughly double in five years.

It has clients like businesses, government agencies, local councils and universities. I'd classify these as these high-quality clients which are likely to stay clients for a long time.

The ASX share achieved a profit before tax margin of 30% in FY24, and it's aiming to improve this to at least 35% in the coming years, thanks to the significant economies of scale provided by its software nature.

According to the forecast on Commsec, the TechnologyOne share price is valued at 52x FY26's estimated earnings.

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Technology One. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Broadcom and has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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