India, Aug. 1 -- Canadian stocks slumped on Friday as investors began to gauge the effect of new tariffs imposed by the US President on Canada, which are set to take effect in a week.
After opening lower than yesterday's close, the benchmark S&P/TSX Composite Index fell immediately. Failing to rebound, it travelled in negative territory before finally closing at 27,020.43, down by 239.35 points (or 0.88%).
As the pause on "reciprocal tariffs" suspension period expires today, US President Donald Trump signed an executive order imposing new tariffs on 69 countries with the levies ranging anywhere from 10% to 41%.
The tariffs are set to take effect from August 7. The week-long gap is intended to give the customs department time to brace up ...