TORONTO (AP) — Canada to impose retaliatory tariffs on more than 700 US goods, including steel and appliances, as trade war escalates.
Falling oil prices help calm the stock and bond markets
NEW YORK (AP) — Oil prices are falling again on Tuesday, which is helping to ease worries in the bond market and support stock prices.
The S&P 500 rose 0.2% and edged a bit closer to its all-time high set earlier this month. The Dow Jones Industrial Average was up 52 points, or 0.1%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 0.6% higher.
Some of the strongest action was in the oil market, where the price for a barrel of Brent crude fell 3.1% to $87.74 and was heading for a second decline following 13 gains in 14 days. The drop came even though tensions between the United States and Iran seemed to ratchet higher after the Trump administration announced new sanctions to further hurt Iran’s economy.
Brent’s price zigzagged between $72 and $102 last month as hopes rose and fell that the United States and Iran could reach a deal that would allow oil tankers to freely exit the Persian Gulf again.
