The Global markets continue to decline as the latest set of U.S. tariffs took effect today.
Following the massive 104 per cent levy on Chinese imports, the trade war between the world’s two largest countries has intensified. China announced its 84 per cent tariff countermeasure today, up from 34 per cent, effective April 10th.
In North America, the TSX opened down over 350 points. Yesterday the index’s main losses came from the energy sector with CNR, Suncor and Enbridge all down. Some bright spots in premarket today, IAMGOLD is up 2 per cent and Kinaxis Inc. is up 3 per cent while Tilray Brands dropped into penny stock territory, down 20 per cent.
The Dow and the Nasdaq are both down around 300 points and in Europe, the impressive gains seen earlier this year on the CAC40 the DAX and the FTSE 100 have melted away with all indexes down year to date.
Market Numbers (Futures)
TSX : Down (1.54%) 22,506.89
TSXV: Down (1.00%) 561.76
DOW: Down (0.84%) 37,645.59
NASDAQ: Down (2.15%) 15,267.91
FTSE: Down (3.69%) 7,618.86
In the Headlines
U.S. President Trump’s 20 per cent European Union tariffs are in effect and Trump has stated that the EU will have to commit to buying US$350 B of American energy to get a reprieve.
Canada’s 25 per cent automobile counter tariff is in effect today. The tariff will be levied on non-compliant vehicles imported into Canada form the U.S.
Canadian company Roots Corp. exceeded profit estimates in its latest quarter and increased sales from the same quarter last year. The retailer also reported a loss of 21.7 million in Q4 as it took a C$50 M n non-cash impairment charge.
Currencies Update: (Futures)
In currencies today, The Canadian dollar is up around a half per cent against the greenback, trading at US$0.70. The loonie is up against the pound and is down against the Euro. Bitcoin declined around 4 and a half per cent, dropping around 5 thousand Canadian.
Commodities: (Futures)
Natural Gas: Up (1.75%), 3.40
WTI: Down (6.50%), 55.70
Gold: Up (2.70%), 3058.93
Copper: Up (2.45%) 4.15
To stay up-to-date on all of your market news head to stockhouse.com
Join the discussion: Find out what everybody’s saying check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
