MID-DAY: Trump-led negativity causing more NAFTA uncertainty; Nike faces negativity over Colin Kaepernick ad campaign
With the resumption of trade negotiations a day away, North American markets are feeling weight from nervous investors.
The TSX is down 65 points to 16,197 and on Wall Street the Dow is slumping 58 points to 25,906.
Donald Trump isn’t helping with negative NAFTA sentiment after he tweeted over the weekend he didn’t feel Canada being involved in trade overhaul was a political necessity.
Drops in Nike and Facebook shares are helping put extra pressure on Wall Street. Nike is getting negative attention for choosing controversial former NFL player Colin Kaepernick as its spokesperson for a new “Just Do It” 30th anniversary ad campaign. The stock is down 2.5 per cent to 80.13.
Oil continues to gain after two production facilities on the Gulf of Mexico were shut down on hurricane concerns. The price of US crude is gaining to 70.16 a barrel.
The Loonie has slipped further on NAFTA concerns to 75.76 cents US.