Investors are once again being force-fed the reality of the ongoing global economic problems. China is reportedly preparing to retaliate against US dumping duties asking for approval for sanctions from the WTO. This, coupled with an uncertain future for NAFTA is weighing on North American markets.
Once again the TSX is in the red, down 23 points to 16,033 and across the border the Dow isn’t doing much better down six points to 25,850.
The price of crude is continuing to rally however, as sanctions against Iran are putting a strain on global oil output. US crude is gaining to 68.13 a barrel.
And an unexpected dip in the housing market is keeping the Loonie flat at 75.99 cents US.