MID-DAY: North American markets back in the red as trade tensions reign
After a brief stint in the green, the Dow is plummeting as investors focus back on trade tensions with China. The Dow is dropping 410 points to 24,537 as the bail hearing for a Huawei executive arrested in Canada runs today. US officials want her extradited across the border for trade-related crimes, which is drawing negativity from Chinese officials.
Despite a major drop in Canada’s unemployment, the TSX is still dropping as it feels the weight of trade tension, falling 15 points to 14,921.
However, the Loonie is still getting a boost from the positive employment news, pushing to 75.16 cents US.
Meanwhile, crude is climbing as OPEC has agreed on a cut of 1.2 million barrels per day in production. US oil is up to 53.61 a barrel.