The Globe and Mail reports in its Thursday edition that Wall Street stocks ended sharply lower Wednesday, dragged down by losses in Nvidia and Tesla, as U.S. President Donald Trump promised tariffs on automotive imports. A Reuters dispatch to The Globe says Canadian stocks also closed lower, including declines for technology and metal-mining shares, as expected U.S. auto tariffs threatened to widen a global trade war. The S&P/TSX Composite Index ended down 178.45 at 25,161.06. Mr. Trump announced plans for car-industry tariffs at a news conference after markets closed Wednesday, widening the global trade war he kicked off this year. Mr. Trump said he would impose 25-per-cent tariffs on "all cars that are not made in the United States." Auto industry experts expect the move to drive up prices and stymie production. For weeks, Mr. Trump has promised to announce a swath of reciprocal tariffs on April 2. Toronto's technology sector fell 3.2 per cent, with Celestica tumbling 9.9 per cent. The materials group, which includes metal mining shares, was down 1.5 per cent. That decline came despite U.S. copper futures hitting a record high amid rising bets on the level of U.S. import tariffs that may be imposed on the metal.
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