India, April 3 -- Canadian stocks are deep down in the red on Thursday, hurt by U.S. President Donald Trump's sweeping tariff announcement that is likely to trigger a global trade war, which could push up inflation and hinder economic growth.
The benchmark S&P/TSX Composite Index, which crashed to 24,429.24, losing about 880 points, was down 737.43 points or 2.91% at 24,569.75 a little while ago.
Trump announced a 10% universal tariff on most imported goods along with additional high tariffs on countries the U.S. considers the "worst offenders" based on trade deficits and non-tariff barriers.
The move marks one of the boldest protectionist pushes in recent history and sparked concerns over inflation and growth.
U.S. Treasury Secretary S...