India, April 3 -- Following the rally seen over the course of the previous session, Canadian stocks showed a substantial move back to the downside during trading on Thursday.
The benchmark S&P/TSX Composite Index plunged early in the session and remained sharply lower throughout the day before closing down 971.41 points or 3.8 percent at 24,335.77.
The sell-off on Bay Street came amid concerns about a global trade war after President Donald Trump outlined his plan to impose sweeping tariffs on U.S. trade partners.
Trump's "reciprocal tariff" plan calls for a baseline 10 percent tariff to be imposed on all U.S. imports except those compliant with the United States-Mexico-Canada Agreement.
Certain countries deemed the "worst offenders" wi...