Australian stocks slipped 35 points or 0.4% to 8,773 in early trade on Tuesday after a muted prior session. Sentiment was dampened by weaker U.S. futures following Wall Street’s overnight retreat, triggered by President Donald Trump’s vow to reinstate a blockade on Iranian shipping through the Strait of Hormuz. Traders also kept a cautious stance ahead of June trade figures from China, a key partner, after May’s robust export and import growth. Locally, consumer confidence showed some recovery in July, though the index remains historically fragile and exposed to global shocks. Selling pressure weighed on electronic tech, healthcare, logistics, and financials, while gains in energy minerals, commercial services, and communications helped cap losses. The four major banks dropped between 0.7% and 1.6%, with notable declines in Caricorn Metals (-3.6%), Nextdc Ltd. (-2.8%), Greatland Resources (-2.5%), and Perseus Mining (-1.6%).