North American markets open lower as U.S./China trade war intensifies

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TORONTO — North American markets pared early losses after fearful investors dumped stocks early in Wednesday trading and shovelled money into bonds amid an intensifying trade war between the U.S. and China.

The S&P/TSX composite index was up 15.17 points to 16,164.66 in mid-morning trading.

The S&P 500 was down 19.39 points, or 0.67 per cent, to 2,862.38 The Dow Jones industrial average dropped 247.77 points, or 0.96 per cent, to 25,781.75, while the Nasdaq fell 11.85 points, or 0.15 per cent, to 7,821.41.

The Canadian dollar traded at an average of 75.12 cents US, down from an average of 75.45 cents US on Tuesday.

The September crude contract was US$51.29, down US$2.34 per barrel from Tuesday and the September natural gas contract was unchanged at US$2.11 per mmBTU.

The December gold contract was at US$1,514.70 an ounce, up US$30.50 from Tuesday and the September copper contract was unchanged at $2.56 a pound.

 

Index and currency in this story: (TSX:GSPTSE, TSX:CADUSD)