TORONTO – Stock markets on both sides of the border took a steep tumble Monday as the reality of a U.S.-Canada trade war took further hold, with the TSX losing almost 400 points, while the blue-chip Dow was down almost 900 points and the Nasdaq was four per cent lower.
The S&P/TSX composite index closed down 378.05 points at 24,380.71, recovering some ground after dipping by more than 500 points earlier in the day.
In New York, the Dow Jones industrial average was down 890.01 points at 41,911.71, or more than two per cent. The S&P 500 index was down 155.64 points or 2.7 per cent at 5,614.56, and tech stocks performed worst of all, with the Nasdaq composite down by 727.90 points or four per cent at 17,468.32.
The Canadian dollar traded for 69.30 cents US compared with 69.58 cents US on Friday.
The April crude oil contract was down US$1.01 at US$66.03 per barrel and the April natural gas contract was up 10 cents at US$4.49 per mmBTU.
The April gold contract was down US$14.7 at US$2,899.40 an ounce and the May copper contract was down four cents at US$4.67 a pound.
This report by The Canadian Press was first published March 10, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
