MID-DAY: TSX weighted by oil slide and trade war worries
The TSX is sliding on a drop in oil prices.
The Bay Street index is down 55 points to 16,378 as oil dips to 67.68 a barrel. Trade war concerns are also weighting the market as US-China tensions escalate. The Trump administration is reportedly considering hiking Chinese import tariffs from 10 to 25 per cent. China has warned it will retaliate if the US follows through with this new measure.
The tension isn’t holding back the Dow though as the Wall Street index is up to 25,428 mostly thanks to a boost in Apple stocks. The iPhone maker is nearing the 1 trillion mark thanks to higher sales in its latest quarter.
The Loonie is closing in on the 77 cent mark at 76.92 cents US.