Markets waver, fall again as U.S. tariffs against Canada, Mexico go into effect
Stocks racked up more losses on Wall Street on Tuesday as a trade war between the U.S. and its key trading partners escalated, with a brief bounce-back in technology stocks failing to reverse overall losses amid shaky global markets.
Just after midnight, the U.S. imposed tariffs on imports from Canada and Mexico, and doubled tariffs against imports from China, sparking retaliatory actions from all three countries and inflaming concerns about a slowdown in the global economy.
The uncertainty was reflected in a volatile day of trading, with Canada’s main stock index dropping 429.57 points, or 1.7 per cent.
U.S. markets fell hard early in the day, saw a slight rebound due to technology stocks, and then fell again.
The S&P 500 was down…
