MID-DAY: Saudi pulls out of Canadian assets; Dow hit by trade war worries again
The Canada-Saudi spat is continuing to hit Bay Street.
Saudi Arabian overseas investment managers are being instructed to pull investment dollars from all things Canadian including bonds, equities and cash holdings according to the Financial Times. The TSX fell 133 points yesterday as the Middle Eastern country began pulling investment deals and the Bay Street index struggling to stay in the green today just 14 points higher at 16,300.
Across the border Wall Street is suffering from the trade dispute between China and the US as the Dow is down 67 points to 25,561. China is hitting the US with $16 billion in more tariffs, in retaliation against a similar move by the US starting on August 23rd.
Oil continues to slide to 67.68 a barrel.
The Loonie is down to 76.54 cents US.