Markets sink as tariff fears revive
A day after an historic rally, driven by a pause in some Trump tariffs, trade worries returned to the minds of investors and sank markets. The S&P finished Thursday -3.46%, the Nasdaq -4.31% and the Dow -2.5% or over 1,000 points.
There were losses across the board, including big names Nvidia at -5.91%, Tesla -7.27%, Warner Bros. Discovery -12.53%, United Airlines -11.41% and CarMax -17%. In reaction to this fear, gold jumped ever higher to US$3,174 while the U.S. 10-year yield inched up to 4.413%. Bitcoin slid 4.25% to US$79,630. Lost in the turmoil was U.S. inflation in March falling from 2.8% the month before to 2.4%.
In Canada, the TX sank 3% or more than 700 points as all sectors but materials declined. Healthcare and energy particularly weighed on the Canadian index. Major movers on Bay Street included CNQ at -6.75%, Baytex -12.99%, Manulife -7.1%, Methanex -13.83% and Bausch Health -13.72%.
💾 NVIDIA Corporation (NVDA-Q) -5.91%
🚗 Tesla Inc (TSLA-Q) -7.27%
📺 Warner Bros. Discovery (WBD-Q) -12.53%
🛫 United Airlines Holdings (UAL-Q) -11.41%
🛍 CarMax (KMX-N) -17%
🅱 The Bitcoin Fund (QBTC.U-T) -4.25%
🛢 Canadian Natural Rsrcs (CNQ-T) -6.75%
🛢 Baytex Energy Corp (BTE-T) -12.99%
🏛 Manulife Financial (MFC-T) -7.1%
⚗ Methanex Corp (MX-T) -13.83%
👨⚕️ Bausch Health Companies Inc (BHC-N) -13.72%
