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5 Things to Know Today: Retaliation Tariffs Set for Sept. 8

  Sunday, August 23, 2026 — Here's what's moving Canadian wallets today, from Ottawa's retaliation date to a fresh record for gold. 1. Canada's retaliation tariffs now have a date: Sept. 8 Prime Minister Mark Carney confirmed Saturday that Canada's "dollar for dollar" response to the new U.S. 50% tariffs will take effect Tuesday, September 8 — the day after Labour Day. Six sectors are named so far: steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics. Ottawa hasn't released the exact tariff rate or the product list yet, saying more details — including a promised support package for affected workers and businesses — are coming "in the coming days." What it means for you: If you buy imported appliances or electronics, or shop U.S. grocery brands in the newly named categories, price watch starts now — but nothing changes at the till until Sept. 8 at the earliest. 2. Markets face their first real test Monday Friday...
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Wall Street Stumbles as December Opens with Tech Selloff and Bitcoin Slide



The first trading day of December brought a sharp reversal for markets, as U.S. stock futures fell across the board while Bitcoin extended its decline. After a strong rebound in late November, investors shifted into a risk-off mood, pulling back from equities and cryptocurrencies.

  • Dow Jones futures slipped 0.5%, erasing part of last week’s gains.
  • S&P 500 futures dropped about 0.7%, while Nasdaq 100 futures fell nearly 1%, led by weakness in technology stocks.
  • The so-called “Magnificent Seven” megacap stocks—Nvidia, Meta, and Tesla among them—each fell more than 1%, underscoring the retreat in tech leadership.
  • Meanwhile, Bitcoin plunged below $85,000, continuing a weeks-long slide before bouncing slightly above that level.

The downturn comes after equities posted their strongest week since June, with the S&P 500 surging 3.7% and the Nasdaq jumping nearly 5% in late November. Historically, December is one of the market’s friendliest months, often buoyed by the “Santa Claus rally.” However, analysts warn that seasonal optimism may not materialize this year, as volatility and shifting investor sentiment continue to weigh on risk assets.

Cryptocurrency-linked stocks also felt the pressure, with companies tied to digital assets sliding in premarket trading. Broader concerns about global growth, interest rates, and geopolitical uncertainty appear to be fueling the cautious tone.

In short, December has opened with a sobering reminder that markets remain fragile, and investors may need to brace for a more turbulent end to 2025 than many had hoped.


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