The Globe and Mail reports in its Friday edition that Canada's main stock index lost more than 100 points Thursday, weighed down by losses in technology and industrials, while U.S. stock markets also fell. A Reuters dispatch to The Globe says the S&P/TSX Composite Index closed down 112.08 points at 25,514.08. The Canadian dollar traded for 70.48 U.S. cents compared with 70.31 U.S. cents on Wednesday. U.S. stocks sold off on Thursday as continuing tariff jitters and a downbeat forecast from Walmart dampened investor risk appetite. A broad sell-off pulled all three major U.S. stock indexes into negative territory, with the blue-chip Dow suffering the steepest loss, shedding 450.94 points. Gold prices surged to a record high, suggesting a flight to safety amid mounting uncertainties. Walmart, the world's largest retailer, provided current fiscal year sales and profit forecasts that fell shy of analysts' expectations, which suggested dampening consumer demand. Walmart's shares slid 6.5 per cent, while other large retailers Target and Costco lost 2.0 per cent and 2.6 per cent, respectively. President Donald Trump on Thursday added to his list of tariff targets, including lumber, autos, semiconductors and pharmaceuticals.
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