Trump's 'tariff man' talk spooks investors, sends stock markets plunging

https://www.cbc.ca/news/business/stock-markets-tuesday-1.4932349

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Stock markets fell precipitously on Tuesday as weekend optimism that the U.S. and China could de-escalate their trade war fell by the wayside.

The Dow Jones Industrial Average fell more than three per cent, or 799 points, to 25,027. The broader S&P 500 fared even worse, losing 88 points to close just above 2,700. And the technology-heavy Nasdaq was worst of all, down almost four per cent, or 283 points, to 7158.

The TSX was comparatively better off, down only 1.3 per cent, or 211 points, to 15,063, as a rebound in oil prices "helped to break the fall of the Canadian markets a little bit," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Both the New York Stock Exchange and the Nasdaq will be closed on Wednesday for the funeral of former president George H.W. Bush, so U.S. investors will have to wait until Thursday if they want to alter their currently gloomy view.



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