North American stocks tumble as U.S.-China trade war escalation looms

The Canadian Press
Published Wednesday, May 8, 2019 11:57PM EDT
Last Updated Thursday, May 9, 2019 11:35AM EDT

TORONTO - Canada's main stock index posted a triple-digit decline in late-morning trading as U.S. stock markets also tumbled ahead of a possible escalation in the U.S.-China trade war.

The S&P/TSX composite index was down 120.68 points at 16,276.72.

In New York, the Dow Jones industrial average was down 387.62 points at 25,579.71. The S&P 500 index was down 35.67 points at 2,843.75, while the Nasdaq composite was down 109.84 points at 7,833.48.

The Canadian dollar traded for 74.14 cents US compared with an average of 74.26 cents US on Wednesday.

The June crude contract was down 89 cents at US$61.23 per barrel and the June natural gas contract was down 3.7 cents at US$2.57 per mmBTU.

The June gold contract was up US$4.40 at US$1,285.80 an ounce and the July copper contract was down 2.7 cents at US$2.75 a pound.

Let's block ads! (Why?)