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Stockhouse @ the Bell: Markets struggle as trade tensions mount

Stockhouse Editorial
0 Comments| November 27, 2018

It was a tumultuous day on Bay St. and Wall St. on Tuesday. Trading started down, losing steam from the rally the day before, but U.S. markets ended in the green.  The U.S. snuffed out optimism of a trade deal with China after the President stated that further tariffs of $200 billion in Chinese imports are expected to be levied at 25%. This comes ahead of a G20 meeting where a deal was expected. The U.S.’ latest threat against China also hit mining shares. Oil prices continued to drop, down by almost a third since early October as a supply overhang emerges coupled with widespread financial market weakness but rallied to buoy the losses. General Motors Co. was down 2.5% after President Trump threatened to cut its subsidies after the automaker announced plans to cut 14,000 jobs.
The S&P/TSX Composite Index was down 68.56 points to 14,944.09, the TSX Venture Exchange was down 7.58 points to 585.52.
The Canadian dollar was down $0.0022, remaining at 75 cents.
Crude oil prices were up $0.16 to $51.79.
The price of gold was down $7.84 to $1,214.56.
In U.S. markets; the Dow scored 108.49 points to 24,748.73, the S&P 500 climbed 8.75 points to 2,682.20, and the NASDAQ added 0.85 of a point to 7,082.70.
In world markets; the Nikkei gained 141.30 points to 21,952.40, the Hang Seng dipped 44.15 points to 26,331.96, the FTSE slipped 19.10 points to 7,016.85, and the DAX erased 45.43 points to 11,309.11.


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