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Markets Soar to Record Highs as Loonie Rebounds Amid Trade Optimism

North American stock markets kicked off July with a bang, as the TSX, S&P 500, and Nasdaq all closed at record highs  on Monday, buoyed by strong tech performance and renewed optimism around global trade negotiations. The S&P 500 rose 0.52% to 6,204.95 , while the Nasdaq climbed 0.48% to 20,369.73 , both notching fresh all-time highs. The Dow Jones Industrial Average added 275 points , closing at 44,094.77. Canada’s TSX Composite Index also surged , reflecting investor confidence in the domestic economy and easing geopolitical tensions. Driving the rally were heavyweight tech stocks like Nvidia, Meta, and Microsoft, which continued to benefit from investor enthusiasm around artificial intelligence and digital transformation. The momentum was further supported by Canada’s decision to scrap its digital services tax, a move seen as a goodwill gesture to advance trade talks with the U.S.. Meanwhile, the Canadian dollar (loonie) rebounded  from last week’s dip, recovering g...
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Market Turmoil: Trump’s Tariff Threats Shake Wall Street

Wall Street faced a sharp downturn on Friday as President Donald Trump announced new tariff threats targeting Apple and the European Union. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all slid significantly in response to the news.

Trump stated that Apple must pay a 25% tariff on iPhones sold in the U.S. unless they are manufactured domestically. Apple shares dropped 3% following the announcement. Additionally, Trump proposed a 50% tariff on all EU imports starting June 1, citing stalled trade negotiations.

The market reaction was swift, with futures on the Dow Jones sinking 1.5%, the S&P 500 falling 1.6%, and the Nasdaq 100 dropping 1.8%. Investors are now grappling with the potential economic impact of these tariffs, particularly as concerns over the U.S. deficit and inflation continue to mount.

With Memorial Day approaching, traders are bracing for further volatility as they assess the broader implications of Trump’s aggressive trade policies.

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