Trumps Chinese import tariffs are taking a bite out of global markets.

Both the Dow and TSX opened lower this morning as investors are worrying over the possibility of a trade war after the US announced billions in tariffs against China’s imported goods. Following the news the Dow is falling 237 points to 24,938 and on Bay Street the TSX is down to 16,321.

Oil prices are continuing to fall ahead of an OPEC meeting where producers are expected to announce an increase in crude production. US crude is down to 65.70.

Gold is taking a major dip, falling $24 to 1,284 after clawing back from losses earlier this month.

The Loonie, weighted by a strong American economy and trade concerns, is down to 75.79 cents US.