India, April 21 -- Canadian stocks are down sharply in negative territory a little past noon on Monday, extending losses after a weak start. Rising trade tensions, and U.S. President's threat that the Federal Reserve Chairman Jerome Powell might be removed from his post are weighing on sentiment.
White House economic adviser Kevin Hassett said on Friday that the president and his team are examining the legal feasibility of removing Powell and claimed that he had acted politically to benefit Democrats.
On Thursday, Trump blasted Powell for not lowering interest rates, calling him "always TOO LATE AND WRONG."
Meanwhile, on the trade front, China's Commerce Ministry said it would retaliate against nations cooperating with the U.S.'s tariff ...