TORONTO — Stock markets in Canada and the U.S. plunged in late-morning trading as investors reacted to the latest tariffs from U.S. President Donald Trump, while the loonie climbed higher compared with the U.S. dollar.
The S&P/TSX composite index was down 826.76 points or 3.2 per cent at 24,480.42 as markets worried the latest round of U.S. tariffs could sink the global economy into a recession.
In New York, the Dow Jones industrial average was down 1,447.65 points at 40,777.67. The S&P 500 index was down 233.69 points at 5,437.28, while the Nasdaq composite was down 951.96 points at 16,649.09.
The Canadian dollar traded for 71.26 cents US compared with 69.83 cents US on Wednesday.
The May crude oil contract was down US$5.71 at US$66.00 per barrel and the May natural gas contract was up seven cents US at US$4.13 per mmBTU.
The June gold contract was down US$17.70 at US$3,148.50 an ounce and the May copper contract was down 18 cents US at US$4.86 a pound.
This report by The Canadian Press was first published April 3, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press
