The Globe and Mail reports in its Friday edition that U.S. and Canadian stocks renewed their sell-off Thursday, surrendering a large portion of their historic gains from the day before, as escalating tensions between Washington and Beijing dampened optimism over the global trade war. The Globe's Darcy Keith writes that the S&P 500 Index tumbled 3.5 per cent, slicing into Wednesday's surge of 9.5 per cent after U.S. President Donald Trump's decision to pause many of his tariffs worldwide. The Dow dropped 2.5 per cent and the Nasdaq composite lost 4.3 per cent. "This is bonkers. I think a lot of retail clients, talking to their advisers after this latest downturn, are saying, just get me out of the way of this landslide and we can come back later," said Jim Carroll at Ballast Rock Private Wealth of Charleston, S.C. "We're backing China up against a wall. What's going to happen next? It frightens people." The S&P/TSX Composite ended down 712.16 points, or 3 per cent, at 23,014.87. The tech sector fell 6.1 per cent, with Shopify down 8.4 per cent and Constellation Software ending 6.4 per cent lower. The energy group tumbled 6.6 per cent as the price of oil settled 3.7 per cent lower at $60.07 (U.S.) a barrel.
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