Market sell-off deepens following China’s retaliation against Trump tariffs
Stock markets worldwide are careening even lower Friday after China matched U.S. President Donald Trump’s big raise in tariffs in an escalating trade war. Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.
The S&P 500 was down 4.8 per cent in afternoon trading, coming off its worst day since COVID-19 wrecked the global economy in 2020. The Dow Jones Industrial Average was down 1,719 points, or 4.3 per cent, as of 1:08 p.m. ET, and the Nasdaq composite was 4.9 per cent lower.
Canada’s main stock index, S&P/TSX, had already fallen 1,221 points, more than five per cent, as of 1:20 p.m. ET.
So far, there are few, if any…
