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Stockhouse @ the Bell: Trade woes with China continue to bog down Wall St.

Stockhouse Editorial
0 Comments| February 7, 2019

A drop in oil prices pushed energy shares lower, flattening Canada’s main stock index in the red, which was a common colour seen among global markets. The downslide started in Europe on Thursday, where the European Commission cut its forecast for eurozone economic growth this year and next, based on worries that economic growth will slow among its biggest members, mainly caused by ongoing trade tensions. U.S. markets continued their selloff into steeper territory. Investors are concerned that, with less than a month left on their shaky truce, Washington and Beijing won’t reach a trade deal. Neither Presidents are expected to meet by the end of the deadline in early March.This comes after the White House’s trade adviser told media that both sides were still distant on terms, though representatives from both sides are expected to meet next week.

The S&P/TSX Composite Index was down 8.95 points to 15,703.36, but the TSX Venture Exchange was down 5.64 points to 614.88.

The Canadian dollar was down $0.0045, to 75 cents.

Crude oil prices were down $1.36 to $52.65.

The price of gold was up $3.12 to $1309.60.

In U.S. markets; the Dow sunk 218.33 points to 25,171.97, the S&P 500 lost 25.56 points to 2,706.05, and the NASDAQ fell 86.93 points to 7,288.35.

In world markets; the Nikkei was down 122.06 points to 20,751.28, the Hang Seng remained at 27,990.21, the FTSE gave up 78.63 points to 7,093.58, and the DAX tumbled 294.61 points to 11,022.02.


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