(Reuters) – Canadian stock index futures fell on Friday, as a global selloff triggered by U.S. President Donald Trump’s sweeping tariffs deepened after China announced counter measures.
The futures on the S&P/TSX index were down 2.7% at 7:10 a.m. ET (1110 GMT).
The reciprocal tariffs announced by Trump on Wednesday triggered a plunge in world financial markets, signaling the end of a decades-long era of trade liberalization.
China’s finance ministry said on Friday it will impose additional tariffs of 34% on all U.S. goods from April 10.
U.S. stock futures fell sharply after China’s retaliation, signaling more losses on Wall Street.
Canadian Prime Minister Mark Carney announced a limited set of counter measures against U.S. tariffs on Thursday.
On Friday, investors will have an eye on U.S. non-farm payrolls report, due at 8.30 am ET, and on Federal Reserve Chair Jerome Powell’s speech later in the day, hoping for clarity on the future of monetary policy.
A reading of domestic employment figures is also due at 8.30 am ET.
In commodities, oil prices are headed towards their lowest close since the midst of the coronavirus pandemic in 2021.
Gold prices slid 1%, after hitting yet another record high in the previous session.
Copper prices fell and logged weekly losses amid concerns that the tariffs would dampen global demand for metals.
Canada’s main index tumbled to a three-week low on Thursday.
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(Reporting by Sanchayaita Roy in Bengaluru; Editing by Sahal Muhammed)
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