2 w. ago
Stock markets already in freefall amid U.S. tariffs on Canada
Stock markets in the U.S. and Canada continue to fall as U.S. President Donald Trump followed through on threats to impose tariffs.On Sunday, U.S. President Donald Trump issued an executive order that lifted the 30-day pause on tariffs. U.S. Commerce Secretary Howard Lutnick said the U.S. will impose 25 per cent tariffs on Canada on Tuesday.The effect was felt instantly, sending ripples through North American stock markets on Monday.In Canada, BNN Bloomberg reports that the S&P/TSX Composite Index closed down 391.88 points, or 1.5 per cent. Barron's reports that the Dow fell by 780 points (or 1.8 per cent), the S&P 500 dropped by 2 per cent, and the Nasdaq Composite fell by 2.7.But there were steeper drops as stock markets opened on Tuesday morning.In Canada, the S&P/TSX Composite Index dropped 634 points or 2.54 per cent. The S&P 500 dropped 100.86 points, or 1.77 per cent. The Dow fell 755.31 points, or 1.75 per cent, while the Nasdaq Composite fell 271.46, or 1.42...
Economics
