Australian mining stocks fall over 3% on US tariff turmoil

Shares of Australian mining .AXMM fall 3.7%, hover around the 2-1/2-year low hit earlier this week

Mining stocks reel under the impact of proposed U.S. tariffs of 104% on imports from China, a major consumer of commodities such as iron ore and a top trading partner for Australia

Most mining stocks derive profits from their exports to China

Shares of BHP BHP.AX and Rio Tinto RIO.AX fall more than 4% each while Fortescue FMG.AX slips more than 5%

The mining sub-index falls over 9% this year, including the day's move vs a ~9.7% fall in the benchmark index .AXJO