S&P/TSX composite falls along with global markets as new U.S. tariffs take effect
The S&P/TSX composite index was down 257.11 points at 27,002.67 in broad losses led by energy.
In New York, the Dow Jones industrial average was down 575.39 points at 43,555.59. The S&P 500 index was down 101.80 points at 6,237.59, while the Nasdaq composite was down 449.11 points at 20,673.34.
The Canadian dollar traded for 72.53 cents US compared with 72.23 cents US on Thursday.
The September crude oil contract was down US$1.82 at US$67.44 per barrel.
The December gold contract was up US$54.70 at US$3,362.30 an ounce.
Monday Mornings
The latest local business news and a lookahead to the coming week.
This report by The Canadian Press was first published Aug.1, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
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Global News
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- Global News
Trade Minister Maninder Sidhu eyes new markets, smaller trade delegations
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Story continues below advertisement Sidhu served four years as a parliamentary secretary in roles reflecting all three branches of Global Affairs Canada: aid, trade and diplomacy. The job saw him represent Canada in trade promotion events in Southeast Asia and security forums in the Caribbean. Sidhu worked as a customs broker before politics — a job that focuses on navigating red tape and tariffs to secure the best rate for trading goods. Sidhu said he plans to visit Brazil soon as the South American country seeks to revive trade talks that kicked off in 2018 between the Mercosur trade bloc and Canada. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy His predecessor Mary Ng put an emphasis on large trade missions which took months to plan. The minister would sometimes fill a plane with corporate and business leaders, spending a substantial chunk of time in one or two countries. Sidhu said he is hoping to bring smaller delegations of companies with him on his trips abroad, with a focus on specific sectors, 'whether it's South America, Indo-Pacific to Europe, to Africa.' 'Businesses feel like they're heard, but they're also getting higher-level meetings on the opposite side in the countries that we take them into,' he said. Ottawa is navigating its trade ties with China as the two countries work to revive the decades-old Joint Economic and Trade Commission, a forum to sort out trade irritants. Story continues below advertisement China has been roundly accused of engaging in coercive trade practices and of restricting certain commodities or services like tourism during political disagreements with Ottawa. 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2 hours ago
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Neuralink to test brain implant in UK for spinal injury patients
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