TORONTO – Canada’s main stock index was down more than 200 points Monday in a broad-based decline, while U.S. stock markets also fell in late-morning trading amid concerns over President Donald Trump’s latest criticism of the central bank.
The S&P/TSX composite index was down 228.99 points at 23,963.82.
In New York, the Dow Jones industrial average was down 1,007.39 points at 38,134.84. The S&P 500 index was down 135.34 points at 5,147.36, while the Nasdaq composite was down 465.12 points at 15,821.33.
Markets have had a rough couple of weeks as Trump ramped up his aggressive tariffs on countries around the world, strengthening concerns that the duties will lead to inflation and slowing economic growth.
In particular, the country’s trade war with China has quickly accelerated, with China on Monday warning other countries against making trade deals with the U.S.
Trump has also been critical of U.S. Federal Reserve chairman Jerome Powell, including comments last week about the central bank not cutting interest rates sooner to help the economy.
The Fed has been cautious in lowering its key rate as the fight against inflation winds down.
Trump went after Powell again on Monday, calling him “a major loser” and “Mr. Too Late,” advocating again for lower rates.
The Canadian dollar traded for 72.41 cents US compared with 72.17 cents US on Thursday.
The June crude oil contract was down US$1.79 at US$62.22 per barrel and the May natural gas contract was down 16 cents US US$3.09 per mmBTU.
The June gold contract was up US$96.40 at US$3,424.80 an ounce and the May copper contract was down less than a penny US at US$4.74 a pound.
— With files from The Associated Press
This report by The Canadian Press was first published April 21, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
