North American stocks sink after U.S. and China announce tariffs, loonie slips

The Canadian Press</span>
Published Wednesday, April 4, 2018 5:51AM EDT
Last Updated Wednesday, April 4, 2018 11:53AM EDT

TORONTO - North American stock markets sank lower in late-morning trading after the U.S. and China each announced tariffs on goods exported by the other.

The S&P/TSX composite index was down 87.86 points to 15,092.90, after 90 minutes of trading.

In New York, the Dow Jones industrial average was down 197.35 points to 23,836.01. The S&P 500 index was down 14.60 points to 2,599.85 and the Nasdaq composite index was down 40.78 points to 6,900.50.

The Canadian dollar was trading at 77.99 cents US, down from an average price of 78.05 cents US on Tuesday.

The May crude contract was down 61 cents to US$62.90 per barrel and the May natural gas contract was up four cents to US$2.73 per mmBTU.

The June gold contract was up US$2.40 to US$1,339.70 an ounce and the May copper contract was down six cents to US$3.00 a pound.

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