Stock Markets Plunge Amid Trump's Tariffs; Oil and Gold Prices Drop

The Canadian and American stock markets have experienced a sharp decline for the second consecutive day due to President Trump's tariffs. The S&P/TSX Composite Index of the Toronto Stock Exchange fell by more than 1,000 points, or 4.16 percent. On Thursday, the Canadian market closed down 3.8 percent, marking the largest drop since June 2020 during the COVID-19 period.

At the same time, the leading index of the American stock market, the Dow Jones, fell by more than 1,900 points during trading today. However, some recovery was seen later from this low point. Meanwhile, crude oil prices dropped to their lowest levels since 2021.

Spot gold prices in the US also fell 1.9 percent to $3,053 per ounce amid the stock market sell-off. On Thursday, it had reached a record high of $3,167. Analysts believe that investors sold some of their gold reserves to cover losses from the stock market declines.