By MarketsFarm
WINNIPEG, May 13 (MarketsFarm) The Canadian dollar was down slightly on Monday morning, following a tumultuous weekend for crude oil and global stock indexes.
At 8:45 CDT Monday morning, the Canadian dollar was at US$0.7448 or C$1.3426, which compares with Friday’s North American close of US$0.7453 or C$1.3418.
The Dow Jones Industrial Average slid up to 500 points over the weekend, following China’s retaliatory tariffs on a range of U.S. goods, the latest move in an ongoing trade war between the two countries. The tariffs targeted two of the nation’s largest exporters, Boeing Co. and Caterpillar Inc., according to Bloomberg.
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Oil futures rallied after two Saudi Arabian oil tankers were damaged in a “sabotage attack” over the weekend. Nobody has claimed responsibility for the attack, though it is seen as an indicator of increased political risk in the oil market, according to Bloomberg. West Texas International gained by US$1.47 to hit US$63.13 per barrel, and Brent Crude gained US$1.81 to hit US$72.43.
The TSX lost at 8:45 CDT, down 122.18 points at 16,166.37. The S&P 500 Index dropped by 47.62 points to hit 2,833.51. Similarly, the Dow Jones lost 457.74 to 25,477.51. The NASDAQ also dropped 182.49 to hit 7,739.86.
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