Trade war worries and a drop in crude is pulling down North American markets. On Bay Street, the TSX is down 166 points to 14,629 and across the border the Dow is falling 447 points to 23,941. Investors are worried the US-China trade spat won’t be resolved during a 90-day breathing period. US officials have marked March 1st as the cutoff to reach a deal, otherwise a new round of tariffs will be slapped on China.
The worry that trade war escalation will continue to ease demand for crude is pushing down US oil to 51.57 a barrel.
The energy-tied Loonie is falling to 74.62 cents US.