CLOSING BELL: Selloff continues as trade war fears roll on
Global worries over a trade war between the world’s two biggest economies battered the markets again today.
In Toronto Canada’s main stock market was up some early, but fell steadily as the day went on. The TSX lost 176 points to close at 15,223.
Gold one of the few areas that did well today as investors look to park their money in safe places after the U.S. announced $60 billion in tariffs on Chinese goods yesterday. Today China announced $3 billion in retaliatory tariffs.
In New York the Dow Jones had a roller coaster ride before tanking late, dropping 424 points to end the day at 23,533.
It was a good day for Canada’s marijuana producers though, their stock prices getting a bump from the senate voting in favour of the Liberals’ bill to legalize recreational use yesterday.
At press time oil is up a $1.62 to $65.92 U.S. per barrel, gold is up $20.10 to $1347.50 an ounce, and the loonie is up close to half a cent to 77.70 cents U.S.