Bay Street Likely To Open Notably Lower

MacroGeopolitics Impact 5
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Summary · why it matters

Canadian shares are expected to open sharply lower on Monday as global markets sell off amid escalating fears of a trade war and recession following China's strong retaliation to U.S. tariffs. The benchmark S&P/TSX Composite Index had already plunged 1,142.30 points or 4.7% on Friday to a nearly seven-month closing low of 23,193.47, adding to a 3.8% drop the previous session. Asian stocks plummeted and European indexes are down 4.7 to 5 percent, while West Texas Intermediate crude fell 2.74% to $60.29 a barrel and gold rose 0.43% to $3,047.90 an ounce. In corporate news, Bank of Nova Scotia announced a $3 million community investment in Atlantic Canada.

Impact on stocks 1

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