US Dollar Strengthens As Loonie Falls; Trump Hikes Tariffs on Canadian Autos After Trade Talks Collapse

MT newswire2026/08/24 18:18

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02:18 PM EDT, 08/24/2026 (MT Newswires) -- The US dollar strengthened against the Canadian dollar Monday afternoon after trade negotiations between the two countries broke down at the 11th hour. President Trump this morning hiked tariffs on Canadian autos to 50% in an escalation of the trade war. The new tariffs take effect from January 1 next year. Prime Minister Carney over the weekend promised that Canada would retaliate "dollar for dollar". US Treasury Secretary Scott Bessent also unveiled new sanctions against Iran this afternoon. The US dollar was up 0.7% to C$1.3859, on last look. West Texas Intermediate October crude oil futures, the US benchmark, fell 2.6% to $84.79 per barrel. October Brent oil futures, the international benchmark, fell 2.6% to $91.95 a barrel. Meanwhile, Comex gold December futures edged up 0.2% to $4,691.

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华尔街见闻•2026/11/10 23:03

Nvidia continues to plummet, losing $430 billion in market value over two days, with Microsoft temporarily reclaiming the world's second place.

On Tuesday, Nvidia closed down 5.5%, a decline significantly greater than other major tech stocks, making it a key factor dragging down the tech sector's performance. During intraday trading on Tuesday, Microsoft's market capitalization briefly surpassed Nvidia, making it the world's second largest publicly traded company by market value. However, after Anthropic released its office suite, Microsoft's losses widened, causing it to fall behind Nvidia once again.

华尔街见闻•2026/11/10 23:01