ASX 200 drops on Monday 30 November 2020

The S&P/ASX 200 Index (ASX: XJO) fell by 1.26% to 6,518 points.

Here are some of the main highlights from the ASX:

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine Estates share price fell by around 7% today after providing an update in relation to the Chinese move to essentially put tariffs on its products. It was one of the worst performers in the ASX 200. 

Treasury Wine Estates said that a deposit rate of 169.3% will be applied to the imported value of the company’s wine in containers of two-litres or less.

The ASX 200 share expects that whilst the Chinese measure is in place, demand for its portfolio in China will be extremely limited.

The company said it has continued to developed a detailed response plan, which will…