TORONTO — North American stock markets plunged for a second day as the U.S. imposed broad tariffs on imports from Canada and Mexico, triggering a continental trade war.
The S&P/TSX composite index was down 631.09 points at 24,370.48, after U.S. President Donald Trump’s executive order implementing the tariffs took effect at 12:01 a.m. ET.
In New York, the Dow Jones industrial average was down 731.98 points at 42,459.26. The S&P 500 index was down 101.77 points at 5,747.95, while the Nasdaq composite was down 282.51 points at 18,067.68.
The Canadian dollar traded for 68.95 cents US compared with 69.31 cents US on Monday.
The April crude oil contract was down US$1.20 at US$67.17 per barrel and the April natural gas contract was up 38 cents at US$4.50 per mmBTU.
The April gold contract was up US$15.40 at US$2,916.50 an ounce and the May copper contract was down seven cents at US$4.53 a pound.
This report by The Canadian Press was first published March 4, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press
TORONTO — North American stock markets plunged for a second day as the U.S. imposed broad tariffs on imports from Canada and Mexico, triggering a continental trade war. The S&P/TSX composite index was down 631.09 points at 24,370.48, after U.S. President Donald Trump’s executive order implementing the tariffs took effect at 12:01 a.m. ET. In
Canada’s main stock index dropped nearly 400 points in early trading, while U.S. markets also fell as the U.S. imposed broad tariffs on goods coming from Canada and Mexico.
The move at the start of trading follows a drop in markets late-afternoon Monday after U.S. President Donald Trump confirmed the tariffs were coming.
The S&P/TSX composite index was down 386.72 points at 24,614.85.
In New York, the Dow Jones industrial average was down 409.58 points at 42,781.66.
The S&P 500 index was down 40.78 points at 5,808.94, while the Nasdaq composite was down 95.81 points at 18,254.38.
The Canadian dollar traded for 69.16 cents US compared with 69.31 cents US on Monday.