BEFORE THE BELL: Tariff talks reignite investor fears of trade war; Loonie takes another beating over NAFTA concerns
Trump’s tariff talk is back in the forefront for investors globally. Experts say the global markets took a dip once again after a White House aide announced he was quitting, reportedly over Trump’s proposed tariffs on steel and aluminum imports. Investors are once again fearing an impending trade war if the US leader goes through with the deal.
Following the news European automaker stocks fell 1.1 per cent. In the east the Nikkei fell nearly one per cent weighted by drops in the automotive and steel trade sectors.
There are also worries the US will drop out of NAFTA talks as tensions rise with Canada and Mexico. This is putting more weight on the already battered Loonie, which is down to 77.35 cents US.
Gold, which has been a safe haven for investors, has dropped slightly this morning to 1,333.
The price of crude is down as well to 62.08 a barrel.