Canada and U.S. stock markets plunge for a second day as U.S. tariffs start trade war

By Canadian Press on March 4, 2025.

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

12
-11