TORONTO - 好色tv and U.S. stock markets on Friday were deep in the red for a second day on the continued fallout from U.S. President Donald Trump's tariff plans.
The S&P/TSX composite index was down around four per cent after also losing four per cent Thursday, while U.S. indexes were down over three per cent after also seeing big drops a day earlier.
"The market doesn't see trade wars as being good for anybody," said Colin Cieszynski, chief market strategist at SIA Wealth Management Inc.聽
Trump's rollout of steep global tariffs after the close of markets Wednesday has sent shock waves and fears over how much they will disrupt trade and economic growth.
In New York, the Dow Jones industrial average was down 1,396.34 points at 39,149.59. The S&P 500 was down 214.75 points at 5,181.77, while the Nasdaq was down 676.32 points at 15,874.29.
"There was a lot of back and forth and guessing and speculation -- will he, won't he, and how much? And, well, he did, and he did quite forcefully," said Cieszynski.
"What we're looking at going forward is, well, now what?"
The market will likely take a few days to digest the more immediate implications, but the problem with such severe trade actions is there's no quick resolution, he said.
"These kind of disputes don't resolve themselves quickly or easily. So this could drag on for a while."
Commodities were taking the biggest hit Friday as even the perceived safe haven of gold fell.
Technology stocks, which took the brunt of Thursday's losses as the Nasdaq fell six per cent, were not getting hit quite so badly, while utility and other more conservative stocks were holding up better, said Cieszynski.
"The more traditionally defensive sectors, they haven't been doing so bad, it's the resources that are really getting clocked today."
Bonds were one of the few categories seeing gains, he said.聽
"We are seeing a flight into bonds, particularly in the states where treasury yields have been coming down."
The 好色tv dollar, which got a boost Thursday as the U.S. dollar fell against a range of currencies, was trading lower around 70.47 cents US.
The May crude oil contract was down US$4.72 at US$62.23 per barrel and the May natural gas contract was down 20 cents US at US$3.93 per mmBTU.
The June gold contract was down US$60.10 at US$3,061.60 an ounce and the May copper contract was down 31 cents US at US$4.52 a pound.
This report by 好色tvwas first published April 4, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
