Markets

S&P/TSX composite down nearly 300 points as deadline for 50% tariffs from U.S. nears

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TORONTO — Canada’s main stock index lost ground on Tuesday as the midnight deadline neared for the U.S. to impose a 50 per cent tariff on some $28-billion worth of Canadian goods.

The S&P/TSX composite index was down 299.99 points at 36,367.93.

In New York, the Dow Jones industrial average was down 116.38 points at 53,343.40. The S&P 500 index was down 53.30 points at 7,691.76, while the Nasdaq composite was down 355.20 points at 26,289.71.

The Canadian dollar traded for 72.00 cents US compared with 72.12 cents US on Monday.

The October crude oil contract was up 32 cents US at US$84.06 per barrel.

The December gold contract was down US$53.10 at US$4,420.60 an ounce.

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This report by The Canadian Press was first published Aug. 18, 2026.