MID-DAY: Trade concerns weight North American markets; US crude steady as holiday nears
As the reality of a trade war grows, the markets are feeling the weight of nervous investors.
Both the Dow and TSX opened lower this morning, marking a ninth losing day in a row for the index on Wall Street. On Bay Street, the TSX is down 181 points to 16,268 while across the border the Dow is falling 278 points to 24,302. Experts say Donald Trump’s continued tirade on trade partners is not helping as the US President threatens more sanctions if other countries retaliate against US tariffs.
Feeling the pressure of trade concerns, the Loonie continues to slip to 75.12 cents US.
Oil prices are sliding as OPEC is pushing for 100 per cent compliance to meet the global demand for crude. But, US crude is steady 68.51 a barrel ahead of the Independence Day holiday.