MID-DAY: Trump ruffles world feathers with tariff talk, fuels more market volatility
Trade war fears are causing market volatility on Wall Street. The Dow is down 317 points to 24,291 as auto and aerospace sectors take major hits. Trump has ruffled feathers with his promise to impose tariffs on steel and cut down on aluminum imports as world leaders are responding with promises of retaliation.
Canada is also concerned the promised tariffs will scar the billion-dollar steel trade industry built with the US. Investor concerns are weighting the TSX down to 15,295.
As investors scramble to find market stability Gold is coming out as one of the champs. The precious metal has rebounded from earlier losses this week gaining to 1,321.
Oil is down to 60.47 a barrel.
The Loonie isn’t seeing too much movement at 77.57 cents US.