(Updates with share moves at 0050 GMT)

April 7 (Reuters) - Australian shares fell 6% at the

open on Monday, dragged by heavy losses in banking, mining and

energy stocks, as investors fled to the safety of government

bonds amid a rout in global markets sparked by U.S. President

Donald Trump's tariffs.

The S&P/ASX 200 index fell about 6.5% to 7,169.20

points by 0050 GMT, hitting its lowest level since December 8,

2023. The benchmark is headed for its worst day since March

2020.

The carnage came as White House officials showed no sign of

backing away from their tariff plans, with Trump adding on

Sunday that he was not intentionally engineering a market

selloff.

Trump said "sometimes you have to take medicine", and he

would not make a deal unless the trade deficit with China is

solved.

In Sydney, miners dragged the benchmark with an

8.2% fall, tracking lower iron ore prices from last week. The

sub-index hit its lowest level since November 2020.

Major miners Rio Tinto, BHP Group ( BHP ) and

Fortescue posted falls between 5.3% and 8.3%.

Banks declined 7.4%, weighing on the benchmark

as well, with the 'Big Four' lenders losing between 6.3% and

7.8%. The sector posted its biggest intraday decline since March

2020.

Energy stocks fell 9.7% to their lowest level

since November 2020, tracking weaker global oil prices.

Energy majors Woodside Energy ( WDS ) and Santos

fell 7.5% and 11.4%, respectively.

Gold stocks also lost 8.4%, tracking a selloff

of the bullion by investors to cover their losses from the wider

market meltdown.

Gold miner Evolution Mining ( CAHPF ) tumbled 10.2%.

Meanwhile, New Zealand's benchmark S&P/NZX 50 index

also declined 3.5% to 11,800.15 points.

The Reserve Bank of New Zealand's cash rate decision,

due on April 9, will be in focus.