Markets close, but ‘still not out of the woods,’ says expert
For the first time in several days, we’re seeing green on the stock market with a surge immediately following news of Trump’s 90-day pause on global tariffs, except for China.
The TSX was up 5.4 per cent at close; the S&P 500 up nearly 10 per cent; the Dow up nearly eight per cent. The Nasdaq soared with 12 per cent. Oil bounced back as well, after it had plummeted yesterday and this morning, at nearly five per cent at close.
“We’re in a better situation than we were this morning,” said Paul Beaudry, the former deputy governor of the Bank of Canada, speaking to CBC News Network host Andrew Nichols.
Even so, Beaudry said the 10 per cent baseline tariff is “still a big tariff” and the U.S.’s “extreme trade war with China” could have consequences for the global economy.
“We’re still not out of the woods,” he said.
