MID-DAY: Trump China tariff threats and Facebook share bleedout weighing down North American markets
Investors are feeling nervous again as Donald Trump prepares to unload his financial fury on China. The President is expected to announce $60 billion in trade tariffs against industries like telecoms and electronics. Tech sectors are also dragging down markets in North America as Facebook shares drop another two per cent following an apology from CEO Mark Zuckerberg over privacy breaches. The TSX is down 179 points to 15,495 and the Dow has dropped 363 points to 24,318.
Meanwhile, investors in the US are on an online mission to save Toys R Us. A group of business experts have committed $200 million and are looking for four times that amount to keep more than half of the stores open after the company filed for bankruptcy.
The Loonie has dipped from its rally down to 77.44 cents US.
Gold has become the safe haven for nervous investors once again and is gaining to 1,330 an ounce.
The price of crude is down to 64.40 a barrel.